{"id":694482,"date":"2010-03-18T05:00:00","date_gmt":"2010-03-18T09:00:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/chinese-exporters-will-scream-murder-if-the-yuan-is-hiked-2010-3"},"modified":"2010-03-18T05:00:00","modified_gmt":"2010-03-18T09:00:00","slug":"chinese-exporters-issue-harsh-warning-against-any-yuan-hike","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/694482","title":{"rendered":"Chinese Exporters Issue Harsh Warning Against Any Yuan Hike"},"content":{"rendered":"

\"Angry<\/p>\n

Who do you think Bejing will pander to first, the U.S. or its own people?<\/p>\n

A yuan hike would kill droves of Chinese exporters, say exporters.<\/p>\n

Reuters:<\/a><\/p>\n

The China Council for the Promotion of International Trade was checking with more than 1,000 exporters in 12 industries on whether they could cope with a stronger exchange rate, Zhang Wei, vice-chairman of the association, said.<\/p>\n

Exporters in labor-intensive sectors such as garments and furniture worked on margins as small as 3 percent, he said.<\/strong><\/p>\n

“If the yuan rises, these companies will face the immediate risk of going bust as their profit margin is already very narrow,”<\/strong> Zhang told a news conference. “So for these companies, the consequences would be disastrous.”<\/p>\n

They’ll scream bloody murder if it looks like China is hiking the yuan for the U.S..<\/p>\n

Join the conversation about this story »<\/a><\/p>\n

See Also:<\/b><\/p>\n