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U.S. still sees yuan as significantly undervalued.
Treasurys Wolin says he sees no evidence law is harming financial system.
Treasury report avoids labeling China as a currency manipulator.
Scaling back reforms would expose U.S. to 'cycle of collapses and crises,' she says.
Scaling back reforms would expose U.S. to 'cycle of collapses and crises,' she says.