Yuan Now 'Much More Market-Oriented,’ Former U.S. Treasury Secretary Says
China’s foreign exchange rate has moved to a “much more market-oriented frame,” which the current U.S. administration has “recognized,” former U.S. Treasury Secretary Jack Lew said Wednesday.
Lew spoke at the 8th Caixin Summit in Beijing via a video link from New York City.
“It’s very important that the exchange rate not be an issue of tension between our countries,” Lew said.
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