Personal Money Transfers

Personal and Private Money Transfers payments over £5000.

Business Money Transfers

Make currency exchange payments for your business. Better rates than a bank.

Banking Exchange Rates

High St Banks or Currency Brokers? Cheapest way to send money overseas.

Cheapest Way to Transfer

Cheapest Way to Transfer Funds Internationally secure and safe transfers

China forced labour causing the US Dollar to slide

Published on 6 July 2017 in News - Pages by Raffick Marday

The United States of America (USA) has revealed its intentions of listing the People’s Republic of China among the worst offenders when it comes to human trafficking as well as forced labour. The move is likely to affect the relationship between the two states. A source close to the congressional has revealed the plans, which stand to aggravate the tension that was existent in Beijing before the current President, Donald Trump took over the leadership of this nation.
China, which is considered the main rival of the United States in the Asia Pacific region, will soar the ties between Xi Jinping and his US Counterpart, Trump.

The US president has been pushing the Chinese president to help in coaxing Beijing to assist to rein North Korea’s plans in relation to nuclear and missile programs. If the new development is anything we can go by then Secretary of State Rex Tillerson would have dropped the Chinese nation to lower grades where the likes of North Korea, Syria and Iran belong. The rating of China into Tier 3 was expected to take place on Tuesday for Chinese Bank Exchange Rates.

China human trafficking offenders affecting US dollar

When contacted, a state Department official refused to shed more light on the matter in question. According to the officer, the department has no mandate to discuss details regarding internal deliberations. The Tier 3 rating is likely to come with different effects both to the United States and China as a nation. The rating can trigger sanctions that will limit access to the US as well as international aid. However, there is no reason to panic because the president of the US has the power to waive such actions from taking place.

Although it has remained unclear why Tillerson opted to downgrade country like China, last year, it was criticized for doing little to solve the issue of forced labour. It was later concluded that China did not meet the minimum standards as far as the fight against human trafficking is concerned. Nonetheless, Beijing clearly showed that it was doing its level best to fight the problem.

The United States has also been concerned over different conditions in China in relation to North Korean Labor crews. Foreign ministry spokesman Lu Kang, who spoke in Beijing, said that the current government has remained resolute in the fight against human trafficking. He also noted that the results of the efforts of the government are clear.

China forced labour causing the US Dollar to slide

For the past months Trump has been in leadership, he has praised XI because of his commitment to work with North Korea. The President was against attacking the trade practices in China when he was seeking power during campaigns.

Very recently, the president of the US said that he was becoming patient with China’s relations with Korea. This is after it emerged that North Korea has clear intentions of developing a missile with the capability of hitting the United States. The new development has continued to elicit mixed reactions from different factions. China and United States’ relations play an immense role when it comes to peaceful co-existence of different nations.

Recent Posts

» «

Leave a comment

Bank Currency Calculator

GBP Flag

1 = 1.17730

Euro Flag

1 = 1.17730

Change Currencies View Providers

© 2018All Rights Reserved: Banking Exchange Rates. Address: 83 Ducie Street, Manchester M1 2JQ. +44 (0) 844 357 4755 - Email Us