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McConnell Votes Against Bill Aimed at Punishing China for Currency Manipulation

2011.10 ·Verified ·Importance III ·Sources 1 ·Washington

The Senate voted on a bill to reform currency oversight, which aims to punish China for manipulating the RMB. McConnell voted against it.

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A Ruthless Person: The Shanghai Offshore RMB Exchange is not an exchange at all: it is a stitched-together monster with a market-oriented skin and an exchange rate control interior. Using a set of data to expose it, 30% of RMB trade settlement, but less than 2% of global reserves, why it is just a ruble with market-oriented packaging, preventing flow speed but not direction0 replies

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