皇冠体育app

2010-06-12 15:31

BEIJING聽鈥� Proposed US legislation aimed at punishing 皇冠体育app unless it lets the yuan rise would not be in line with World Trade Organization rules, 皇冠体育app's Ministry of Commerce said on Saturday.

US Senator Charles Schumer said on Wednesday he and other colleagues would push for a vote in the next two weeks on legislation that would allow the US Commerce Department to use anti-dumping and countervailing duty laws against 皇冠体育app or any other country with a fundamentally misaligned exchange rate.

Commerce ministry spokesman Yao Jian told a monthly news conference: "It's against facts and lacks support from WTO rules."

Yao restated 皇冠体育app's long-standing view that growth patterns in developed nations, particularly excessive consumption, were the root cause of global economic imbalances, not the yuan.

US Treasury Secretary Timothy Geithner said on Thursday the yuan was an impediment to global rebalancing, indicating that US patience with 皇冠体育app's currency policy was wearing thin.