August 2, 2007 - Statement of Skip Hartquist, Partner, Kelley Drye & Warren LLP, on behalf of the China Currency Coalition August 02, 2007 Good morning. The China Currency Coalition estimates that the yuan continues to be undervalued vis-à-vis the dollar by 40 percent or more. The world needs assurance that exchange depreciation will not be used as a device for obtaining competitive advantage in international trade; for such exchange depreciation is never a real remedy.