Anti-China Senators unimpressed by yuan move

Only a few days ago, I wrote in Yuan may begin moving again
China has been increasing cross border settlements, using the yuan with more trading partners, foreign companies can now issue yuan bonds, etc. There is steady progress towards making the yuan a fully convertible currency, but it is proceeding slowly and prudently. The direction is unmistakably clear, but it's simply not fast enough for some people.
Those people would be U.S. Senators. And three days after China eased the yuan exchange rate, the Senators are back to complaining:
US lawmakers renew focus on China after yuan stalls
"They take a step forward, and then a step back. It's the same pattern we have seen for years," Democratic Senator Charles Schumer told the hearing.

He noted that the yuan rose only 0.02 percent on Wednesday, the third trading day after China's central bank said it would allow greater flexibility for the currency. That move brought the overall gain since the announcement to just 0.2 percent.

"The Chinese will keep treating us like they have us on a yo-yo unless we make a serious push for our legislation," Schumer said.

"On the currency issue, not enough is being done. So we are going to move our bill," he said in comments echoed by other Senators who are co-authors of currency legislation.

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