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David McCormick: “Since July of 2005, the Chinese currency has appreciated…”

Featuring: David McCormick, Republican | U.S. Senate, Pennsylvania

McCormick in HK: US-Sino relations 'unprecedented'

Published October 22, 2008 | Video Starts at 03:35

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 18% on a real trade weighted basis. 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. (03:35–03:47)

CLAIM

Asserts that the Chinese currency has appreciated 18% on a real trade-weighted basis since July 2005.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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David McCormick

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McCormick in HK: US-Sino relations 'unprecedented' | Uploaded October 22, 2008 | 03:35-03:44