Currency help is on the way, suppliers told

Stoffer, Harry
June 2005
Automotive News;6/20/2005, Vol. 79 Issue 6153, p23
Trade Publication
This article focuses on the U.S. Congress which is poised to fight what critics call China's manipulation of its currency, a key lawmaker promised U.S. suppliers. Critics, including many suppliers, say China's currency policies indirectly subsidize Chinese exports. At the same time, they say, the policies hurt foreign companies that seek to sell products in China. China artificially pegs the value of its currency at 8.28 yuan to the U.S. dollar--15 percent to 40 percent below its actual value, critics charge.


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