The United States calls for the promotion of 'faster' than the Chinese yuan ..

Obama and the administration refused to brand China a currency manipulator, while he said the economy in the world's fastest-growing is to make the "insufficient" progress in allowing the yuan to rise.

The United States "believes that the progress made so far been insufficient, and that there is a need for more rapid progress," and the Treasury Department said yesterday in a report to Congress in the foreign exchange markets. Still the real exchange rate of the yuan "undervalued much" ministry "will continue to closely monitor the pace" of appreciation.

The report, originally scheduled in April, with the following payment and
Treasury Secretary Timothy Geithner is to raise the price of the yuan. Lawmakers, including Sen. Charles Schumer, a New York Democrat, argue that the exchange rate gives China an unfair advantage in the global market. This month, talks between the two largest economies in the world, China has agreed to the upside of the coin, while at odds with the United States on the pace.

"We have differences on the degree of appreciation," said Deputy Finance Minister Zhu Guang Yao May 10 in Washington. China's economy will expand 9.6 per cent in 2011 and 9.5 per cent next year, according to IMF projections released last month.

Said Chris Rupkey financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York and the Treasury Department backed away from the "nuclear option" calling China a currency manipulator. G-20 countries is "going to have something to say on global imbalances later this year, so it is better to decide these things at the Global Forum instead of the United States to take action on the part of one."