US Treasury official calls for China FX action

A US Treasury official said on Monday 12 December that China should act on its pledge to make its currency regime more flexible.

"We have heard vows from very top to mid-level officials saying they are going to undertake the kind of change and adjustments that we have asked them to undertake," Under Secretary for International Affairs Timothy Adams said at a news briefing for foreign press in New York.

"We are now looking for action. Action is what is needed and action is what is expected," he

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