BUSINESS BRIEFING
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Times Wire Reports
The Obama administration declined to name China as a country that is manipulating its currency to gain unfair trade advantages.
The Treasury Department did say it has “serious concerns” about a lack of flexibility in the value of China’s currency against other currencies and about the country’s rapid accumulation of foreign exchange reserves, including U.S. dollars.
Calling China a currency manipulator would have triggered negotiations between the two countries and could have led to economic sanctions.
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