The Impact of China Currency Bill in the Global Economy at Golden Networking's China Conference in New York

New York, NY, September 28, 2010 --(PR.com)-- As a House committee for the first time passed a bill targeting China's currency policy, ratcheting up the pressure on Beijing to let the yuan appreciate at a faster clip, there will be an impact in the global economy/ These consequences will be debated by a panel of experts at Golden Networking's 2nd China Leaders Forum, "Is the Chinese Dragon Poised for Global Dominance or Economic Implosion?" (http://www.ChinaLeadersForum.com), October 6th, New York City.

As reported by The Wall Street Journal, "the measure, approved by the House Ways and Means Committee, would allow the Commerce Department to impose punitive tariffs on goods from countries deemed to be manipulating their currency. U.S. officials say China keeps its currency artificially weak, rendering its goods more competitive on world markets. The vote reflects lawmakers' growing frustration with China and the Obama administration over the issue. Both supporters and critics of the measure said it is likely to pass when it is slated to come up for a full House vote, possibly Wednesday—although prospects were less clear in the Senate."

"Many U.S. businesses, policy makers and economists argue that the yuan is undervalued by between 20% and 40% against the U.S. dollar, giving Chinese exports an unfair price advantage on the global market. The Obama administration has been pushing China to allow the yuan to appreciate more quickly. President Barack Obama in a meeting with Chinese Premier Wen Jiabao in New York Thursday raised the issue of the yuan, which has risen by less than 2% against the dollar since mid-July, which is when Beijing had pledged to move to a more-flexible exchange-rate system."

Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net. Golden Networking has been frequently featured in the press, including recent articles in The Wall Street Journal, "Happy Hour for High-Frequency Trading", The New York Times, "Golden Networking Helps Job Seekers Make Overseas Connections", Los Angeles Times, "Speed-addicted traders dominate today's stock market", Reuters, "Revamp looms as trading experts huddle at SEC" and Columbia Business School's Hermes Alumni Magazine, "10 Under 10".

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