Treasury Gives China Six Months To Please Congress

The United States Treasury has given China six months to make its currency more flexible, or it will name the country as a "manipulative trading partner" in its report to congress. "The fixed exchange rate that China now maintains is a substantial distortion to world markets, blocking the price mechanism and impeding the adjustment of international imbalances," says the report. Congress is becoming impatient with the way China is handling its currency, and with the U.S. Treasury for the way it has been handling the situation with China. MarketWatch latest ebusiness news