Time for China to revalue yuan – U.S. Treasury official

Reuters: The U.S. Treasury Department shares U.S. lawmakers' concerns about China's exchange rate practices and believes it is time for China to again begin raising the value of its yuan, a Treasury Department official said on Tuesday.

"We too have serious concerns about China's exchange rate policy. The rebound of China's economic growth and exports and their continued large-scale reserve accumulation indicate clearly that China should resume appreciation of the RMB," or yuan, a Treasury official said, speaking on condition of anonymity...Full Story