China says US currency bill would have serious repercussions if becomes law

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http://www.washingtonpost.com/business/china-says-us-currency-bill-would-have-serious-repercussions-if-becomes-law/2011/10/04/gIQAQMwFKL_story.html

BEIJING — China has stepped up its criticism of a proposed U.S. law that would punish countries with artificially low currencies, saying there would be negative repercussions for both countries if it is passed.

Chinese Foreign Ministry spokesman Ma Zhaoxu said Tuesday that the Senate move “seriously violated WTO rules and seriously disturbed China-U.S. trade and economic relations.”

U.S. senators voted to open a week of debate on the bill that would allow the government to impose additional duties on products from countries that subsidize exports by undervaluing their currencies.

Besides the Foreign Ministry, China’s Commerce Ministry and central bank also issued statements denouncing the bill.

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Re: China says US currency bill would have serious repercussions if becomes law

It is noora kushti , both of these countries are into a love-hate kind of marriage. They both have their fate tied to each other. These are just tactics to keep the tax payers happy.