Chinese-American professional groups sent a letter to the House of Representatives. The exchange rate bill will harm the U.S. economic recovery

Chinese-American professional groups wrote to the House of Representatives The exchange rate case will harm the U.S. economic recovery. The U.S. Senate passed the Currency Exchange Rate Supervision Reform Act of 2011 on the 11th...

The U.S. Senate passed the Currency Exchange Rate Supervision Reform Act of 2011 on the 11th. The main content of this bill is to require the U.S. government to impose punitive tariffs on major trading partners with so-called "undervalued exchange rates." On the 12th, cross-regional overseas Chinese organizations and Chinese professional groups such as the National Chinese Youth Federation, the American-Chinese International Youth Chamber of Commerce, the North American Cross-Strait Cultural Exchange Association, the Chinese Finance Association of Southern California, the Vietnamese-Cambodian Chinese Youth Association of the United States, the Outstanding Chinese Youth Association of the United States, the Hong Kong Youth Association of Los Angeles, and the Shenzhen Youth Federation of North America issued an open letter to representatives of states across the United States on the 12th, expressing their strong opposition to the passage of this bill with obvious trade protectionism in the House of Representatives. They said that this bill will not be beneficial to the U.S. economic recovery, but will further exacerbate domestic inflation in the United States and delay the wave-like recovery of the U.S. economy.