Bloomberg News

Obama Says China Aggressive in ‘Gaming the Trading System’

October 06, 2011

Oct. 6 (Bloomberg) -- President Barack Obama said China has been aggressive in “gaming the trading system,” including intervening to keep the value of its currency artificially low.

“China has been very aggressive in gaming the trading system to its advantage and to the disadvantage of other countries, particularly the United States,” Obama said in response to a question at a White House news conference. “Currency manipulation is one example of it, or at least intervening in the currency markets in ways that have led their currency to be valued lower than the market would normally dictate.”

Still, Obama warned that legislation in the Senate to penalize China risked triggering trade sanctions against the U.S.

To contact the reporter on this story: Roger Runningen in Washington at rrunningen@bloomberg.net

To contact the editor responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net


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