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10-01 US Experts Say Congress Passing China Currency Bill Risky The US House of Representatives has passed legislation targeting Chinas currency policy, a step closer to punishing China for alledgedly manipulating its currency. The House voted on a measure that targets imports from China and other countries where currencies that are perceived to be undervalued. Both Democrats and Republicans endorsed the measure, a Washington rarity, a bipartisan vote on a substantive policy issue just weeks before key midterm elections. However US experts say the move is more of a symbolic sense than one that may produce real results, they warn that the Congress could be on a risky path. Our Washington correspondent Shanshan has more. The bill now need to be cleared by the Senate and then sent to the President to sign before it becomes law. Nicolas Lardy, senior fellow with the Washington thinktank, Peterson Institute for International Economics, says whether the House proposal will receive a vote in the Senate is unclear at this stage. I think its almost impossible for the Senate to take it up before the election. Senator Schumer has said he would like a vote on the Senate on the so-called lame duck session. But theyve got a very busy session when they come back, trying to deal with taxes and a number of other things. I think its far from certain that the Senate will take that. If the bill becomes law, it will allow the U.S. Commerce Department to estimate how much China undervalues its currency to calculate and slap countervailing and anti-dumping duties on imports from China and other countries. Former US trade representative Susan Schwab, a strategic advisor with Mayor Brown Law Firm made this asessment. There is nothing that happens after this piece of legislation goes through the House, even if it goes through the Senate, even if it goes into law, nothing happens immediately in terms of US action. While some U.S. lawmakers extol the benefits of the bill, there is evidence t