undervaluation

Mr. Williamson's latest research suggests that the degree of undervaluation has fallen to almost 30%.

What's the Yuan Worth?

More specifically, their bill would allow the Department of Commerce to treat currency undervaluation as a prohibited export subsidy.

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"While our underlying holdings are liquid, for investments in which we have taken an active role, we do not think it helps our cause to be forced to liquidate a holding to meet investor redemptions at a time when we are publicly pushing for corporate change due to the undervaluation of a company," he wrote.

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The buildup of foreign-exchange reserves suggests that the People's Bank of China continues to intervene strongly in the markets to support the yuan at an artificially low level—indicating that the degree of undervaluation remains higher than the falling current-account surplus suggests.

What's the Yuan Worth?

But by looking at the size of China's current-account surplus and the buildup of foreign-exchange reserves, economists can arrive at ballpark figures for the degree of undervaluation.

What's the Yuan Worth?

China's undervaluation of its currency is also a point of contention.

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Mr. Lu didn't say how he arrived at his calculation of undervaluation.

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"But the U.S. shouldn't worry about 8%" undervaluation, he said in an interview with The Wall Street Journal.

China Economist: Yuan 'Has Room to Appreciate'

China's undervaluation of its currency is also a point of contention.

Hu Visit Comes During 'Critical Juncture' for US-China Relations

Standing Their Ground But looking at the size of the current-account surplus is only one way to estimate the degree of undervaluation of the currency.

What's the Yuan Worth?