News Release
« BackPresident Presses China on Currency Manipulation
Tuesday, February 23, 2010In speaking with Administration and Congressional officials, The Franklin Partnership (the One Voice lobbying firm) has learned that the White House is quietly speaking with leaders on Wall Street and their counterparts in China about an increased emphasis on correcting China’s illegal currency manipulation. While negotiations stalled the last few years, President Obama sees correcting the currency issue as a main component of leveling the trade imbalance and promoting exports by small and medium-sized manufacturers. One Voice will continue to apply pressure on the Administration and Congress to take more forceful action to correct their currency, which most estimate is undervalued by 25-40 percent, giving China a significant trade advantage.
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