Treasury Secretary appoints New Special Envoy on China.Treasury Secretary John Snow recently appointed Olin L. Wethington as his special envoy on China. Wethington will be responsible for direct engagement with China on issues relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc currency exchange rates and financial market reform. Wethington has served as Assistant Secretary for International Affairs Noun 1. international affairs - affairs between nations; "you can't really keep up with world affairs by watching television" world affairs affairs - transactions of professional or public interest; "news of current affairs"; "great affairs of state" at the Treasury and as a deputy under the Secretary for International Trade at the Commerce Dept. The Treasury Dept. has been under increasing pressure from Congress and the metalcasting industry to address China's alleged currency policy that pegs its yuan at 8.28 to the U.S. dollar. This undervaluation un·der·val·ue tr.v. un·der·val·ued, un·der·val·u·ing, un·der·val·ues 1. To assign too low a value to; underestimate. 2. To have too little regard or esteem for. by the Chinese allows them to gain unfair trade advantages by making their exports artificially cheap. The move also acts as a tax on imports from the U.S. In accepting his new assignment, Wethington said he "looks forward to working with the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
v. in·dus·tri·al·ized, in·dus·tri·al·iz·ing, in·dus·tri·al·iz·es v.tr. 1. To develop industry in (a country or society, for example). 2. nations to encourage China to reform its currency policy. Such a reform is in China's best interest, and it is in the best interest of the global economy." |
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