-->wozu schicken die dann Bush diese Woche nach China?

Eine typische Bürokratennummer oder höherer Unsinn?

Reuters
UPDATE - Fed's Bernanke-Currency float dangerous for China
Tuesday October 14, 1:07 pm ET

WASHINGTON, Oct 14 (Reuters) - A top U.S. Federal Reserve official said on Tuesday it would be dangerous for China to move to a floating foreign exchange regime and warned that the yuan could actually depreciate if the currency were floated.

Under pressure from American manufacturers who complain that China's currency peg gives the country an unfair trade advantage, the Bush adminstration has been trying to persuade the Chinese government to move to a flexible currency regime.

"I do think that a purely floating exchange rate would provide some dangers in the current financial system in China," Fed Governor Ben Bernanke said in response to questions after testimony delivered to the Senate Banking Committee.

"Particularly one risk is... that if there were some significant capital outflows... the yuan might actually depreciate, worsening the competitive situation."

He also said China's banking system would need substantial reform before the country moved to a float.

Bernanke said an alternative approach would be for the country to consider a revaluation which would keep the exchange rate fixed but at a different value.

He said if it were determined that China was not sticking to World Trade Organization committments, the United States should proceed through the WTO. Several Senators have threatened to introduce legislation proposing to put tariffs on Chinese imports if the country didn't move to more flexible currency regime.

"To the extent that that value is artificially low, that would provide an advantage to trade for the Chinese," Bernanke said.

But he said the impact of the currency on trade is partially offset by China's accumulation of foreign exchange reserves that in turn expand money supply and boost inflation.

On Wednesday President George W. Bush is due to leave for the summit of the Asian Pacific Economic Cooperation (APEC) and will stop in Japan on the way.

Bernanke said he expected Bush to discuss currencies with Asian leaders during his trip.

-->