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Greek-Australian Senator Makes Proposal Regarding China’s Currency Devaluation

Greek-origin Senator in Australia, Nick Xenophon is making proposals to the Australian Senate, concerning protection measures against China.

The Australian Minister for Finance and Deregulation Wayne Maxwell Swan often opposes countries that maintain devaluation deliberately, in order to promote exports, since their products.

A similar opposition-policy has been adopted by China, and thus the Australian market is full of Chinese products.

Senator Xenophon will make a proposal to the Senate, demanding the imposition of increased taxes to countries who maintain currency devaluation.

“If the Finance Minister means what he has said, then he is obligated to support our proposal”, Senator Xenophon stated, who agrees with Senator Sherrod Brown’s opinion, according to which a currency devaluation means stealing.

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