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China's Currency: Brief Overview of U.S. Options (CRS Report for Congress)

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Release Date Revised Jan. 25, 2006
Report Number RS22338
Report Type Report
Authors Jonathan E. Sanford, Foreign Affairs, Defense, and Trade Division
Source Agency Congressional Research Service
Older Revisions
  • Premium   Nov. 29, 2005 (6 pages, $24.95) add
Summary:

Many are concerned that China's currency is undervalued and that this injures the U.S. economy. The Chinese authorities say they are not manipulating their currency and they want to move as soon as possible to a market-based yuan. A new exchange rate procedure was announced in July 2005 but has not resulted in meaningful changes in the yuan's international value. This report reviews the issues and discusses alternative approaches the United States might take to encourage more rapid reform.