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RMB exchange rate bill
Time:2011/11/25 16:26:36 Come:南佳
Representatives of the U.S. textile industry are stepping up calls for new currency bill, they believe that this will blow like China undervalued its currency countries, thus promoting American jobs.

S claim that they, the United States Trade Representative Office of China's compliance with WTO rules in the situation analysis, to determine the Chinese Government for its textile exports to 30 different industry subsidies. They claim that this is by far the largest and most destructive is the currency manipulation.
U.S. National Council of Textile Organizations (NCTO) President Johnson (Cass Johnson) said: "Ten years after joining the WTO, China's subsidies, as always, deeply entrenched in their textile and clothing industry.

"The Chinese government to give its exporters of textiles and clothing export subsidies each from 35% to 75%.

"Over the past decade, China's textile and clothing exports rose 489% to the United States, or nearly $ 32 billion, while other countries and regions in the world textile exports to the U.S. by 10% of China's market share increased from 10% to 40%. "

Earlier this month, the U.S. Senate has voted accept foreign supervision law in 2011, which means that the basic bill the Senate will vote on bids.

"We urge the House of Representatives and the Senate quickly accept this legislation, so that the economic prosperity of our country return to the track," Johnson said. (China Textile Network)
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