U.S. companies suddenly shy over China yuan squabble
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U.S. companies suddenly shy over China yuan squabbleU.S. companies suddenly shy over China yuan squabbleBut if chief executives are worried, they are #xkeepingTarpsawfully quiet about it, which may reflect a fear of being seen as out of touch with American workers at a time when unemployment is near 10 percent, investors and academics said.The Obama administration next month is due to issue a report that could label China a "currency manipulator." Meanwhile, the Senate is weighing a bill that threatens to slap new tariffs on some Chinese goods if Beijing does not allow its yuan currency to rise in value from the level it has maintained since the global credit crunch flared in mid-2008.Either move could prompt China to raise new barriers to its imports of big-ticket U.S. goods like airplanes and railroad locomotives. That would be a heavy blow to major U.S. multinationals, who are counting on Chinese demand to offset continued economic weakness at home and in Western Europe."If it comes down to a trade war with sanctions, which are hard to predict, you'd probably have some unintended consequences," said Peter Klein, senior portfolio manager at Fifth Third Asset Management in Cleveland, Ohio.United Technologies Corp, the world's biggest maker ofTarpselevators and air conditioners, last year generated about 5 percent of its revenue in China, the world's third-largest economy. At an investor briefing earlier this month, Chief Financial Officer Greg Hayes said that given the shaky U.S. and Western European economies, "the one bright spot is China."Shares of United Technologies,Carbon fiber body kit, as well as fellow industrials General Electric Co and Caterpillar Inc could all be hurt if the U.S.-China trade soured. Expectations of robust sales to China are already built into share prices, said Klein.At the same time, U.S. CEOs are reluctant to be perceived as standing up for China, Klein said. "They have nothing to gain from that."Reuters approached more than half a dozen major companies with significant business in China for this story but all declined to comment.A decade ago, chief executives of companies from United Parcel Service Inc to State Street Corp spoke out publicly in favor of letting the world's mostTarpspopulous nation #xinto the World Trade Organization.相关的主题文章：
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