A senior US lawmaker yesterday stepped up warnings to China against holding down its exchange rate, threatening to resort to legislation if Beijing did not change currency policy by next week's meeting of the Group of 20 major economies.
“Seven years of patience from the United States and the international community have run out,” said Sander Levin, chairman of the House of Representatives ways and means committee.
“The administration constructively set the G20 meeting as an important juncture for China to change its inflexible currency practices. If China does not act and the administration does not respond promptly thereafter, the Congress will act.” G20 heads of government meet in Toronto at the end of next week.
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