CHINA / Foreign Media on China
China lets currency rise on dollar
Updated: 2006-09-29 15:01
It's been just days since Treasury Secretary Henry M. Paulson Jr.
returned from China, but already the Chinese government has sharply
stepped up the appreciation of its currency, allowing it to push through
an important level against the dollar on Thursday for the first time.
The recent climb �� less than a full percentage point since the beginning
of September �� is still modest and perhaps will not last. But it is
producing cautious hope in the Bush administration that the Chinese
government may be lifting its opposition to a revaluation that could ease
China��s huge trade surplus with the United States. more...
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