Posting from myChinese laptop, breathing American air, sitting on my Irish ass.
And today is the same day that the
US Treasury "has refused to describe China as a currency manipulator".
Note the qualification, "any" undervalued currencies. This is aimed at China, but it won't hit them. Anyways, legislation isn't the best way to solve this problem, to my mind.
http://news.bbc.co.uk/2/hi/business/6747859.stm