The United States Treasury Department on......>

CHINA: The United States Treasury Department on Tuesday declined to name China a

currency manipulator, instead putting it on a monitoring list of major trading

partners whose currency practices "merit close attention." In its report

"Foreign Exchange Policies of Major Trading Partners," Treasury said that

neither China nor any other country had met the thresholds of all three criteria

that determine currency manipulators: having a significant trade surplus with

the U.S. of at least $20 billion; having a current-account surplus of at least

3% of GDP; and persistent intervention in foreign currency purchases. The report

stated that China maintains "an extremely large and persistent bilateral trade

surplus with the United States," and "continues to pursue a wide array of

policies that limit market access for imported goods and services," but it also

noted that China's "recent intervention in foreign exchange markets, tightened

capital controls, and increased discretion over setting the daily fixing rate of

the renminbi have likely prevented a disorderly currency depreciation that would

have had negative consequences for the United States, China, and the global

economy."