China will not let its currency strenghten
Monday, December 28th, 2009Wen Jiabao, Chinas premier minister, made it clear yesterday that China will not give in to US and European demands for the Yuan to strenghten. Beijing are becoming more defiant against foreign pressure regarding their currency policy.
“On the one hand, you are asking for the renminbi to appreciate; and for the other hand, you are taking all kinds of protectionist measures”, said Jiabao.
He find that by keeping the Yuan stable against the Dollar, China is contributing to the global recovery. (more…)
