China hopes US will ‘reconsider’ currency bill


AFP
September 29, 2011

BEIJING, China (AFP) – Beijing expressed hope on Thursday that the United States would not pass a bill to punish China over its alleged currency manipulation.

US senators unveiled the bill last week amid deep anger at stubbornly high US unemployment of over nine percent, with the sour economy the top issue on voters’ minds as the race to the November 2012 elections heats up.

Democratic Majority Leader Harry Reid on Monday predicted the legislation — opposed by the White House — would pass, but China’s foreign ministry said it hoped lawmakers would not push through the bill.

“We hope that the two countries can solve problems on the basis of mutual respect and equality and in keeping with WTO (World Trade Organisation) rules, rather than politicising economic trade issues and resorting to trade protectionism,” said ministry spokesman Hong Lei.

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