The United States has accused China of holding down the value of its currency in an effort to keep the price of its exports low. China keeping the strength of their currency low has made it the world's manufacturing hub and it wasn't seen as a big deal until the recession hit and America is faced with a 9.6% unemployment rate. The bill will be voted on in the House of Representatives on Wednesday and if it passes there it will be voted on by the Senate next week. According to some of the bill's supporters, a properly valued yuan could bring up to 500,000 jobs for Americans since the Chinese exports would become more expensive. These sanctions against China could set off an international trade war so it will be interesting to see how the House and Senate will vote on this bill especially with mid-term elections coming up in November.
http://www.bbc.co.uk/news/business-11407254
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