SHANGHAI — China issued a strong statement against a U.S. bill aimed at forcing Beijing to raise the value of its currency, calling the legislation a “grave” violation of World Trade Organization rules and the wrong solution for solving America’s economic woes.
“China urges the U.S. government, Congress and all quarters to resolutely oppose using domestic legislation to create a fuss about and put pressure on the renminbi exchange rate,” a Foreign Ministry spokesman said in a statement posted Wednesday online. “It won’t be the solution for the U.S. economy and unemployment, and will disrupt the shared efforts of China and the United States, as well as the international community, to promote vigorous recovery in the global economy.”
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