China upset with US bill on yuan
Posted: Fri Oct 01, 2010 6:39 am
An interesting article from China Daily, today.
It seems the US congress wants US to be able use its own estimates of currency undervaluation to calculate countervailing duties on imports from China and other countries.
OF course Congress does not seem to understand how the manufacturing of products in China actually works.
much of the manufacturing is done by factories external corporations (read: foreign Investors) set up in China to make their goods and ship back to the US.
It seems the US congress wants US to be able use its own estimates of currency undervaluation to calculate countervailing duties on imports from China and other countries.
OF course Congress does not seem to understand how the manufacturing of products in China actually works.
much of the manufacturing is done by factories external corporations (read: foreign Investors) set up in China to make their goods and ship back to the US.