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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Knighty Tin who wrote (30805)	5/26/2005 12:18:49 PM
From: mishedlo	Read Replies (2) of 116555

Senators criticize Snow for being soft on China Thursday, May 26, 2005 2:50:22 PM afxpress.com WASHINGTON (AFX) -- U.S. senators gave Treasury Secretary John Snow an earful Thursday, accusing the administration of being soft on China's currency manipulation. At a hearing on the Treasury's foreign exchange report, Sen. Elizabeth Dole, R-N.C., said she was "astounded" that China had not been officially branded as a currency manipulator. Sen. Charles Schumer, D-N.Y., said Chinese manipulation is destroying political support for free trade deals that end up being one-sided. Sen. Paul Sarbanes, D-Md., praised the administration for moving in the right direction, but complained "I'm not sure it's moved enough yet."

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