RMB Revaluation – A Thorn in the US' Side

On Sept. 28, US senators Charles E. Schumer and Lindsey Graham dropped their bill which called for an additional 27.5% tariff on all Chinese exports unless China revalued its currency, renminbi (RMB). But they have not ruled out similarly tough legislation in early 2007. Certain US quarters blame the ever-expanding US deficit on the "artificially" low exchange rate of the RMB against dollar, do you agree?

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