U.S. groups pressure RMB to appreciate again

Introduction: Phoenix Satellite TV news on August 31 Phoenix Satellite TV news on August 31: the "Sound Dollar alliance" composed of more than 80 groups, including the National Association of manufacturing industries, said on August 29 that it was considering asking the Bush administration to file a case and launch a formal investigation into the manipulation of the exchange rate by the Chinese government Experts pointed out that this would be the first trade case caused by the government's interference in currency If it can't be solved, the United States may impose trade sanctions on China in accordance with article 301 Taq if the Bush administration files a trade complaint filed by the Coalition for a sound dollar, it means that the US will use section 301 to force the RMB to appreciate At that time, the Hong Kong Business Daily reported that the U.S trade representative office needs to investigate the extent of China's intervention in the foreign exchange market, whether it constitutes unfair trade operation, and may raise the import tariff of Chinese goods as a retaliation Taq called for the RMB to be decoupled from the US dollar In addition, four US senators also sent a letter to finance minister snow, who is going to visit China, calling on him to urge Beijing to decouple the RMB from the US dollar in a stronger position, so as to make the RMB float freely It is generally estimated that snow, who is going to visit Beijing next week, will discuss the RMB issue with Chinese officials Taq Reuters pointed out that getting the basic support of the vital group "Sound Dollar alliance" would help Bush's re-election campaign in 2004 Taq "Sound Dollar alliance" held talks on June 19 to discuss whether to ask the Bush administration to use "301 clause" to force RMB appreciation "Sound Dollar alliance" is the largest industrial and commercial group in the United States, composed of more than 80 American trade associations, representing the interests of the largest manufacturing and agricultural trade groups in the United States, including the American Manufacturing Association, the steel manufacturers association, the American Textile Manufacturers Association, the American Aviation Association, etc Taq's "Sound Dollar alliance" said that the Chinese government "buys a lot of US dollars in the foreign exchange market and artificially maintains the low exchange rate of the RMB"; this practice will not be stopped "and will cause a great blow to the global trading partners" Taq officials from China's Ministry of finance also revealed that snow will hold talks with Zhou Xiaochuan, governor of the people's Bank of China, and Jin Renqing, finance minister, respectively during his visit to China According to foreign news, snow, who advocates "moderate diplomacy" for China's monetary policy, will face the most severe test on the monetary issue Taq Snow's visit to China is facing a test, Taq Reuters said, the vast majority of analysts believe that snow's visit to China will not make much progress in changing the monetary policy of the two countries Taq Financial Times said that snow's moderate strategy would bring real risks One risk is that domestic companies and employees, especially in manufacturing, are increasingly angry, and moderate strategies may not be able to quell that anger Snow, who visited a factory in Harley Davidson last week, assured workers that he would use "moderate diplomacy" with the Chinese government on monetary policy, noting that the Chinese government had expressed some views on easing the exchange rate TAq