U.S. complains about yuan, lashes Germany
Washington again stops short of accusing Beijing of manipulating its currency but criticises Berlin for running large trade surpluses
The US government has raised concerns about the value of the yuan but declined again to accuse Beijing of manipulating it.
However, it had sharp criticism for Germany, a traditional ally, saying that country needed to do more to rebalance growth in Europe and the global economy.
Washington said in a report on Wednesday that the yuan remained "significantly undervalued".
Officials said, however, that China's actions did not meet the legal requirements for the country to be designated a currency manipulator. That designation would trigger intensive negotiations and could ultimately lead to trade sanctions.
The United States criticised Germany for maintaining a large trade surplus throughout the euro-zone debt crisis. The report said Germany's surplus was larger than China's last year and that was causing trouble for its neighbours.
It urged Germany to push for more domestic-led growth rather than relying so much on exports. This would have the advantage of providing markets to boost the exports of Germany's neighbours and other countries.
The [yuan] is appreciating but not as fast or by as much as needed