Business

China Criticizes US Pressure Over Currency

ABC News
China on Tuesday rejected U.S. calls to ease currency controls and said criticism would not help efforts to end the global crisis. A Commerce Ministry spokesman repeated Chinese complaints that Washington was acting unreasonably by expecting other countries to raise their value of their currencies in order to boost U.S. exports. The United States and other trading partners complain Beijing keeps the yuan undervalued and are pressing for it to rise. "Politicizing the exchange rate issue is not helpful to coordination among all parties in the course of fighting the global financial crisis," spokesman Yao Jian said at a news briefing.
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Posted by Editor at March 18, 2010 02:33 AM