The U.S. is looking closely at the recent weakness in China’s yuan and is concerned about the global economic fallout of the currency’s decline.
A senior official at the Treasury Department said it would “raise serious concerns” if Beijing is moving away from plans to allow market forces to have a greater impact on the yuan’s exchange rate, especially if Chinese officials are at the same time citing greater flexibility in the yuan’s movements.
The Treasury official briefed reporters Monday on key topics for the spring meetings of the International Monetary Fund and the gathering of financial officials from the Group of 20 leading economies later this week in Washington.
The official said China’s exchange-rate movements send a signal on how China intends to direct an overhaul the world’s second-biggest economy.
A senior official at the Treasury Department said it would “raise serious concerns” if Beijing is moving away from plans to allow market forces to have a greater impact on the yuan’s exchange rate, especially if Chinese officials are at the same time citing greater flexibility in the yuan’s movements.
The Treasury official briefed reporters Monday on key topics for the spring meetings of the International Monetary Fund and the gathering of financial officials from the Group of 20 leading economies later this week in Washington.
The official said China’s exchange-rate movements send a signal on how China intends to direct an overhaul the world’s second-biggest economy.