It's a big mistake not to label China if the U.S. law has any meaning. They are still intervening massively to keep their currency from rising. I don't see how you can not define that as manipulation.
More Quotes from Fred Bergsten:
In a matter of years, not decades, the euro will move up alongside the dollar in a bipolar global monetary framework.Fred Bergsten
China is the 800-pound gorilla overshadowing all of the U.S. economic relations.
Fred Bergsten
It is clear that the G-7 will come in with further intervention. They have made a commitment now and they must follow through.
Fred Bergsten
The euro will start to challenge the dollar as the world's lead currency as soon as the European Central Bank and the new currency establish their credibility -- which will probably be quite soon.
Fred Bergsten
I think it's a matter of a few years.
Fred Bergsten
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