From a letter to President Bush from the House Ways and Means Committee:
China's currency manipulation needs to be addressed through the WTO, as well as the IMF. WTO rules are clear. A member country "shall not, by exchange action, frustrate the intent of the provisision this Agreement."
Here's the press release.
And from the Administration:
US Treasury Secretary Henry Paulson will tell his Chinese counterparts next week in Beijing that the yuan's recent currency appreciation is 'significant' and 'welcome,' though it is not yet at the point where the US would like it to be, a top Treasury official said today.
