China hits back in yuan, textiles war of words

Reuters.com

China on Wednesday dismissed U.S. criticism of its fixed currency peg and attacked European and U.S. steps to curb Chinese textile exports as unfair.

The war of words reflects growing political unease on both sides of the Atlantic over jobs that are being lost because of a relentless increase in low-cost imports from China — many of them made in factories built by U.S. and European companies

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