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to relax controls on the yuan, which was revalued by 2.1 percent in July and is managed against a basket of currencies. U.S. senators Charles Schumer and Lindsey Graham, who visited China last week, are considering pushing legislation that would put punitive tariffs on Chinese imports.
``The pressure is decidedly building,'' said Brad Setser, a former Treasury official and now an economist at Roubini Global Economics in New York, said in a Feb. 22 interview. ``China's rapid accumulation of reserves and the fact that it has to intervene so greatly to maintain the current value of the renminbi is significant...
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