The US government has again said that the yuan is “significantly undervalued” but refused to accuse the Chinese government of manipulating it, South China Morning Post reported, citing a report by the US government published on Wednesday. The report said: “The [yuan] is appreciating but not as fast or by as much as needed”. The weakness of the yuan makes goods from China cheaper for the American market but US goods are more expensive in China. The Treasury report also criticized Germany for not rebalancing growth in Europe and the global economy.