China rejects siren song on yuan
By Francesco Sisci BEIJING – Chinese Premier Wen Jiabao’s press conference with foreign media at the end of the National People’s Congress on Sunday delivered a slap in the face to those in the United States who are calling for the appreciation of the yuan against the dollar to help stem the ongoing global economic crisis. Wen reiterated China’s position on the thorny issue: Beijing will keep the exchange rate stable. The value of the Chinese currency is an extremely sensitive topic for Beijing. The central government has already raised the possibility of revaluing the yuan by about 10%. With … Continue reading China rejects siren song on yuan
