The Obama administration faces a deadline Friday on whether to formally label China a "currency manipulator." The U.S. Treasury Department may apply that label in a twice-a-year report on global currencies which is expected to be released on Friday. The reporting requirement is mandated by Congress, but the report could be postponed.U.S. lawmakers and businesses accuse China of keeping its currency, artificially low, giving Chinese-made goods a price advantage on world markets.
Chinese Commerce Ministry spokesman Yao Jian said Friday the United States should not make the yuan a "scapegoat" for its domestic problems. He said it is unfair to criticize the yuan's exchange rate by simply pointing at the Chinese trade surplus. China posted a $16.9 billion trade surplus in September. That was less than the $20 billion surplus in August but enough to prompt new demands for the world's second-largest economy to let the yuan trade more freely on financial markets.
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