U.S. Urges ‘Decisive’ Steps by China to Shift Away From Exports By April 16, 2021, 6:30 PM EDT U.S. Urges ‘Decisive’ Steps by China to Shift Away From Exports By April 16, 2021, 6:30 PM EDT China has ‘highly imbalanced’ economic recovery: U.S. Treasury Treasury cites ‘lackluster’ private demand, jobs weakness LISTEN TO ARTICLE Photographer: Qilai Shen/Bloomberg Photographer: Qilai Shen/Bloomberg The U.S. said China continues to focus its policies on exports, and called on its biggest economic rival to implement forceful measures to boost domestic demand. China’s recovery has been highly imbalanced” since the hit from the coronavirus pandemic, the U.S. Treasury Department said in its semiannual foreign-exchange report . Stringent containment measures enabled China to quickly resume manufacturing while domestic consumption lagged.” […] The divergence between these indicators widened in the second half of 2020 to its largest level since 2015,” the Treasury said in the report released Friday. […] Overall, this development highlights the need for China to improve transparency regarding its foreign exchange intervention activities,” the Treasury said.
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