China Says US Bill May Spark Trade War -- Sydney Morning Herald
HONG KONG: China has accused the US of risking a ''trade war'' as legislation the Senate is studying would punish what senators claim is China's undervalued currency.
The People's Bank of China said it ''regrets'' a Senate vote on Monday to consider the bill. In website statements yesterday it said the measure would violate World Trade Organisation rules.
''The timing of such an incident is unfortunate with the current global environment,'' said Lu Ting, a Hong Kong-based economist at Bank of America-Merrill Lynch. ''If there is trade war, it's no good for anybody.''
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