奥巴马政府在人民币问题上软化立场Obama Administration Softens Stance On China Currency

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奥巴马政府拒绝给中国打上汇率操纵国的标签，此举可能有助于缓和中美两国关系，但同时也引起一些团体的不满；这些团队认为北京人为压低了人民币汇率，以获得贸易优势。

在向国会提交的国际货币操作例行报告中，奥巴马政府没有将中国列为汇率操纵国，这和他竞选总统时的立场形成了鲜明对比。

这份报告也与美国财政部长盖特纳(Timothy Geithner)今年1月底的言论相矛盾。当时他指责中国操纵人民币汇率，不过奥巴马政府此后一直避免重复这一措辞。当时盖特纳在回答国会质询时表示，美国政府会积极使用所有外交手段……促使中国改变汇率政策。

汇率走低能够使一个国家的产品获得相对于竞争对手产品的价格优势，从而提振该国的出口。


奥巴马政府在周三的报告中表示，美国政府认为中国的人民币汇率依然被低估，但中国已经采取数项措施推动经济恢复平衡，包括允许人民币升值以及宣布了一项5,900亿美元的两年期刺激计划。

奥巴马政府指出，在全球经济衰退的情况下，其他新兴市场货币纷纷贬值，而人民币兑美元仍在持续走高。这是美国政府显著转变措辞的重要原因。

盖特纳说，中国已经采取措施提高汇率灵活性。他指出，统计数据显示，从2008年6月至2009年2月，人民币实际有效汇率升值幅度达到了16.6%。

人民币兑美元的升值主要发生在2008年上半年，当时金融危机还没有恶化。自2009年初以来，人民币兑美元汇率一直保持着相对稳定。

美国在人民币汇率问题上软化立场之际，中美两国的经济关系已经变得更加紧张。中国近期表达了对其巨额美国国债投资的担心。美国依赖于从中国借款，奥巴马政府官员已在努力缓解中国对美国资产安全性的担忧。

奥巴马在竞选总统时，曾是最严厉批评中国的人之一，他当时指责中国操纵人民币汇率，并暗示会通过法案对中国操纵汇率的行为实施惩罚。

如今奥巴马的立场转变招致了一些坚定支持者的批评。美国制造业联盟(Alliance for American Manufacturing)的执行董事保罗(Scott Paul)说，这太令人失望了。

保罗并没有指责奥巴马违背了竞选诺言，但他说，情况怎样还要看奥巴马政府的政策能否推动中国进一步重估人民币汇率。

民主党籍参议员舒默(Charles Schumer)是国会内批评中国最厉害的人之一。他说，政府作出了正确的选择。

舒默说，事实是，在所有其他货币都兑美元贬值的时候，人民币汇率非但没有贬值，反而还有所升值，这的确显示了一些进步。他表示，自己仍然认为中国在操纵汇率，但现在恐怕不是将中国列为汇率操纵国的恰当时机。
The Obama administration declined to label China a currency manipulator, a move that could smooth relations with the Asian giant but also inflame tensions with groups that believe Beijing is artificially weakening its currency to gain a trade advantage.

The decision, unveiled in the administration's regular report to Congress on international currency practices, represents a sharp break from President Barack Obama's position while he campaigned for office.

It also contradicts Treasury Secretary Timothy Geithner's position in late January, when he said China was manipulating its currency, though the administration was careful not to repeat that language. At the time, Mr. Geithner, responding in writing to questions from Congress, said the administration would 'use aggressively all diplomatic avenues . . . to seek change in China's currency practices.'

A lower currency can boost a country's exports by making them relatively inexpensive compared with competitors'.

In Wednesday's report, the administration said it believes China's currency, the yuan, is still undervalued, but that the country has taken steps to rebalance its economy, including allowing the yuan to rise and announcing a two-year, $590 billion stimulus program.

The Obama administration justified the apparent switch in rhetoric by noting that China's currency has continued to rise against the dollar while other emerging-market currencies have fallen amid the global recession.

'China has taken steps to enhance exchange-rate flexibility,' Mr. Geithner said, citing statistics showing China's currency appreciating at a 'real effective rate' of 16.6% from June 2008 to February 2009.

Most of China's currency appreciation against the U.S. dollar came in the first half of 2008, before the financial crisis worsened. Since the beginning of 2009, the yuan has stayed relatively stable against the U.S. dollar.

The softening stance comes as economic relations between China and the U.S. have grown more tense. China recently expressed concern about its huge stock of U.S. Treasury securities. The U.S. relies on borrowing from the Chinese, and Obama administration officials have sought to reassure China about the safety of U.S. assets.

When he campaigned for president, Mr. Obama was among the toughest critics of China, accusing the country of manipulating its currency and signing on to legislation to punish China for manipulating its currency.

The change drew criticism from some of Mr. Obama's staunch supporters. 'It's disappointing,' said Scott Paul, executive director of the Alliance for American Manufacturing, a coalition of manufacturers and the United Steelworkers union.

Mr. Paul didn't accuse Mr. Obama of breaking a campaign promise, but said the 'proof is in the results' of whether the administration's policies will prompt China to further revalue the yuan.

Sen. Charles Schumer (D., N.Y.), one of China's toughest critics in Congress, said the administration made the right call.

'The fact that China's currency has not depreciated but even appreciated a little while all other currencies depreciated against the dollar does show some progress,' he said. Mr. Schumer said he still believes China is manipulating its currency, but that 'this wouldn't have been the opportune time' to designate the country as a manipulator.