- CNTV English - CCTV News

Homepage > News > Biz >

US currency bill "good for no one": Dr. Kuhn

09-26-2010 15:40 BJT Special Report:US Tightens Pressures on Yuan Rise |

BEIJING, Sept. 26 (Xinhua) -- The U.S. Congress has moved a step closer to imposing punitive measures against China for allegedly manipulating its currency, the RMB, as the Ways and Means Committee of the House of Representatives approved the currency bill, paving the way for a vote in the full House next week.

As some lawmakers claimed that it is the exchange rate of the Chinese currency, the RMB, that causes America's trade deficit with China, the bill would allow the U.S. Commerce Department to use estimates of currency undervaluation to calculate and slap countervailing duties on imports from China and other countries.

How much relevant is the Chinese currency to the U.S. trade deficit with China? What is the future of the bill? What consequences would the currency bill have if it becomes law? What effect would a drastic appreciation of the RMB have on the Chinese economy and the world?

With these questions, Xinhua economic writer Zhang Zhengfu has had an exclusive interview with Dr. Robert Lawrence Kuhn, an international investment banker and corporate strategist, and author of the book "How China's Leaders Think: The Inside Story of China's Reform and What This Means for the Future".

Following are excerpts from the questions and answers:

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program