FED:Howes takes aim at Reserve and Treasury=3

AAP General News (Australia)
08-25-2011
FED:Howes takes aim at Reserve and Treasury=3

Independent senator Nick Xenophon said the undervalued Yuan enabled Chinese manufacturers
to dump cheap product in Australia at the expense of local suppliers.

He called on BHP-Billiton, which announced a record $23 billion profit on Wednesday,
to ensure it was doing the right thing by buying Australian.

The company's response that giving preference to Australian producers would breach
global trade rules was "a bit cheeky".

"The rules of free trade are not so free," Senator Xenophon told reporters in Canberra.

Opposition Leader Tony Abbott said the government could relieve the pressure on manufacturing
by abandoning its carbon tax and cut spending.

"If you can get government spending down you take the pressure off interest rates,"

he told ABC Television.

"And that should take the pressure of the dollar."

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KEYWORD: ECONOMY 3 CANBERRA

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