07 July 2011

BRASIL: FinMin Mantegna Blasts China, USA...For Currency Manipulation.

                                          AFP
A frustrated Finance Minister Guido Mantega attacked China and the USA...for manipulating their currencies...at the expense of trading partners.


"Of course, China manipulates it's currency and it (would be) better that the currency could fluctuate," said Mantegna.
"I don't know if in the United States it's exactly a manipulation. It's the quantitative policy that goes to an undervalution of the dollar," he said.


China and the USA are important markets for Brasil's agricultural products.
But its currency...the real...has soared in value...now at it strongest level since 1999...while the yuan and usd have only weakened.