Summary At the same time, US stressed upon the importance of keeping focus on domestic demand.
Washington (AFP) - The US Treasury said Wednesday that China does not manipulate its currency, but pushed Beijing to do more to focus on domestic demand, not exports, to drive economic growth.
The US Treasury said Wednesday that China does not manipulate its currency, but pushed Beijing to do more to focus on domestic demand, not exports, to drive economic growth .
In a twice-yearly report to Congress, which would set sanctions on any country officially branded a "manipulator," the Treasury said the yuan, or renminbi (RMB), had "partially recovered" from a sharp plunge earlier in the year and appreciated by 1.9 percent since late April.
