The United States expressed concern on Monday (April 7) that if the recent depreciation of the renminbi signals a shift away from market-driven exchange rate policies, it could trigger "serious concerns." For years, the U.S. has urged China to allow the yuan to appreciate, arguing that a weaker renminbi makes Chinese exports more competitive in the U.S. market, harming American producers and creating an unfair trade advantage. At the same time, a weaker yuan limits Chinese consumers' ability to purchase foreign goods, further skewing economic dynamics.
Despite this, the U.S. Treasury Secretary, Jacob Lew, had previously welcomed China’s decision to widen the daily trading band for the yuan against the U.S. dollar in March. However, a senior U.S. Treasury official emphasized on Monday that the U.S. is "not fully convinced" that China is genuinely moving toward a more market-oriented exchange rate system. The official warned that if the recent devaluation suggests a move away from this path, it would raise significant concerns.
This statement likely reflects the U.S. stance ahead of upcoming meetings with the International Monetary Fund and the G20 later this week. The official also noted that the expanded trading range came after the yuan had already declined, and that Chinese authorities had engaged in "a considerable amount of intervention" in the foreign exchange market — a practice the U.S. hopes to see reduced.
In addition, the U.S. may push European nations at the G20 to take stronger measures to address issues in their banking sector. Recent data from Europe show persistent low inflation and weak demand, raising fears of a deflationary spiral. The official stressed that more actions are needed to support global economic growth.
The yuan's decline over the year was influenced by the widened daily trading band and the central bank's guidance on two-way volatility. After years of steady appreciation, the yuan saw a sharp drop in just three months, falling from a high of 6.0406 per dollar to nearly 6.2331 — a drop of almost 2,000 points. This marked a significant reversal in the currency’s trend.
The U.S. official also criticized other countries, warning Japan against excessive fiscal stimulus and pointing out that U.S. sanctions on Russian officials have hurt the Russian economy. Additionally, the official criticized emerging markets for being slow to adopt flexible exchange rates, stating that many are resisting market-driven adjustments that are essential for global economic recovery.
Tungsten Electrode with their special properties, such as low thermal expansion and good thermal conductivity, enough resistance resistance, high modulus of elasticity. So tungsten rods are widely used in various fields.We have Red Tungsten Electrode, Blue Tungsten Electrode, White Tungsten Electrode, WP Type Electrode Pure Tungsten, WZr3 Type Electrode Zirconiated Tungsten, WZr8 Type Electrode Zirconiated Tungsten .The customer can choice based on their need .
Tungsten Electrode, Tungsten Welding Electrode, Tig Tungsten Electrode, Red Tungsten Electrode, Blue Tungsten Electrode
EDAWELD COMPANY LIMITED , https://www.jsedaweld.com