U.S. Decries Weak China Currency

Among the half-dozen U.S. Treasury officials traveling to Beijing for talks with their Chinese counterparts this week, Sharon Yuan will, as usual, carry the heaviest suitcase.

Yuan’s stuffed gray Travelpro befits the scope of her two jobs. As head of the department’s trade and investment policy and its chief China coordinator, she often arrives before her colleagues and makes multi-city stops. After the July 9-10 U.S.- China Strategic and Economic Dialogue, she’s off to Brussels for trade talks.

The immediate task before the Taiwan-born Yuan is persuading a slow-moving Chinese government to allow greater market access for U.S. businesses. She’s Treasury Secretary Jacob J. Lew’s everyday liaison with the world’s second-largest economy as they press China to quicken its economic opening and increase the value of a currency that happens to be called the yuan.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.