US delays publishing exchange rate report

    10-16-2010 The US Treasury¹ Department(财政部) says it will delay the publication of its half-yearly international economic and exchange rate policy report to Congress（国会） which was due to be released Friday.
    The Treasury Department says in a statement that the Heads of State, finance ministers, G20 central bank governors and leaders from the Asia-Pacific region will take part in several key meetings over the coming weeks.
    They will provide an opportunity to make additional（附加的额外的） progress on the important challenge of securing stronger and more balanced growth. The delay aims to take advantage of the opportunity provided by these important events.
    Meanwhile, US Treasury Secretary, Timothy Geithner, says the Chinese currency has appreciated by roughly 3 percent against the US dollar since June the 19th this year.
    China announced in June that it would renew the reform of its exchange rate mechanism² and allow the exchange rate to move higher in response to market forces. Since September the 2nd, the pace of its currency appreciation³ has risen to more than one percent a month.
    Geithner also says the appreciation of the Chinese currency shows China's growing economic strength and that it has made efforts to implement⁴ reforms and increase domestic consumption. By sustaining this course, China has been making an essential contribution to global economic growth.
    Geithner says the challenge of building a stronger, more balanced and sustainable（难以忍受的） global economic recovery is a multilateral challenge, and not just the responsibility of China and the US. It requires policy reforms in all major economies.
    Analysts⁵ say if the exchange rate policy report is published as scheduled, the US Treasury has to explain the present Renminbi exchange rate, by adding the so-called "the undervaluation of Renminbi" into the report, or branding China as "currency manipulator". But during the so-called "Currency War", the US Treasury's final assessment（评定,估价） of the Renminbi exchange rate hasn't yet been decided⁶.
    Timothy Geithner, US Treasury Secretary, said, "China needs to have the independence to set the policy for their country. It's in their interest to again move to a more flexible system. It allows them to run their policies. And it will help them to contain the inflation risks in China."
    According to US legislation, the Treasury needs to hand in its international economic and exchange rate policy report to the Congress every six months. After Barack Obama became president, the Treasury declared in three reports that no business partners had been found to be gaining unfair advantage in international trade by manipulating their currency rates. Geithner said "declaring China as a currency manipulator may lead to side effects".
    US media reports say the Obama administration does not want to be accused of bias⁷ towards China before the midterm elections, nor bear the consequences of triggering a trade war between the two countries. Taking all factors into account, postponing⁸ the controversial document's publication is perhaps the best choice for the US administration.（本文由在线英语听力室整理编辑）

1 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

2 mechanism   

n.机械装置；机构，结构

参考例句：

• The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
• The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。

3 appreciation   

n.评价；欣赏；感谢；领会，理解；价格上涨

参考例句：

• I would like to express my appreciation and thanks to you all.我想对你们所有人表达我的感激和谢意。
• I'll be sending them a donation in appreciation of their help.我将送给他们一笔捐款以感谢他们的帮助。

4 implement   

n.(pl.)工具，器具；vt.实行，实施，执行

参考例句：

• Don't undertake a project unless you can implement it.不要承担一项计划，除非你能完成这项计划。
• The best implement for digging a garden is a spade.在花园里挖土的最好工具是铁锹。

5 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

6 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

7 bias   

n.偏见，偏心，偏袒；vt.使有偏见

参考例句：

• They are accusing the teacher of political bias in his marking.他们在指控那名教师打分数有政治偏见。
• He had a bias toward the plan.他对这项计划有偏见。

8 postponing   

v.延期，推迟( postpone的现在分词 )

参考例句：

• He tried to gain time by postponing his decision. 他想以迟迟不作决定的手段来争取时间。 来自辞典例句
• I don't hold with the idea of postponing further discussion of the matter. 我不赞成推迟进一步讨论这件事的想法。 来自辞典例句