Experts say that Chinese inflation is a natural side effect of a healthy economy. Here's why they're wrong.
The US Senate passed a currency bill that would punish countries that subsidize their exports by maintaining an artificially low exchange rate. China called such a law a 'lose-lose' for both sides.
Stock prices are up in Asia and Europe. Futures point to a rise in US stock prices at the open.
Currency legislation is moving through Congress. The exchange rate flexibility promised by Chinese officials may not be enough to head off a vote for the US to impose sanctions.
Beijing unpegged the Chinese yuan from the dollar last weekend, leading to a half-point rise against the US currency this week. The value of China's currency has been a highly contentious issue with trade partners.
US accusations that China is a currency manipulator do not fairly take into account the export sector and unemployment consequences to China if they unpegged the yuan.