Word: yuan
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...recent high levels of support in Congress, many expect the introduction of a consolidated bill soon, one that incorporates all of these ideas into a single piece of legislation. This legislation would be targeted—its specific purpose would be to pressure Beijing to reevaluate the yuan, China’s currency...
...yuan is indeed undervalued, and this does negatively affect the U.S. economy: The current exchange rate results in low production costs in China, allowing Chinese businesses to produce products (which they then import to the U.S.) whose prices are lower than the prices of their American-made counterparts. The U.S.-China trade deficit is, in part, a result of this phenomenon...
...Chinese imports, however, would not directly bring about reevaluation of the Yuan but rather would falsely make Chinese products seem “more expensive.” This would address the symptoms of the problem rather than its cause...
...White House and the U.S. Treasury are aware that the undervaluation of the yuan is a problem, and have been taking steps to address it. Treasury Secretary Henry M. Paulson and Chinese Vice Premier Wu Yi’s discussions about U.S. and Chinese economic policies are much more likely to result in positive economic change, including re-evaluation of the yuan, than is heavy-handed congressional legislation. For the sake not only of the U.S. and China’s future relations, but of the global economy at large, Congress should abandon the currency bills that it is currently...
...Damrosch, Professor in Practice of Architecture and Urban Design Rem Koolhaas, Cabot Director of the University Art Museums Thomas W. Lentz, Beren Professor of Economics N. Gregory Mankiw, Professor of Geophysics J. O’Connell, Professor of Psychology James H. Sidanius, and HMS Professor of Cell Biology Junying Yuan. The academy also honored 24 foreign citizens as honorary members. The procession was preceded by brief lectures by selected new inductees. One inductee, Center for Brain Science Director Joshua R. Sanes, noticed some conspicuous absences among the new fellows, from filmmaker Spike Lee to Vice President Al Gore...