And so I would say that in that regard, the communication has never been stronger. And China has acted in a very responsible way throughout the last 12 months. And I think that communication will continue. So Since July of 2005, the Chinese currency has appreciated about 21% on a nominal basis relative to the dollar. about 18% on a real trade weighted basis. And that incremental progress, we think, should continue and ultimately will result in a more balanced domestic economy, which is ultimately in the US Interest. (03:35–03:44)
CLAIM
Asserts that the Chinese currency has appreciated 21% nominally against the dollar since July 2005.
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