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This bill requires the U.S. Treasury Secretary to assess whether China meets specific criteria regarding exchange rate transparency and practices before any proposal to increase China's voting power at the International Monetary Fund. If China fails to meet the criteria—including not violating IMF obligations, maintaining transparent exchange rate policies, or not persistently managing its currency for competitive advantage—the Secretary must instruct the U.S. Governor of the IMF to vote against the proposal. The President may waive this requirement if deemed important to national interest, and the provision expires after seven years.
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