The European countries and the United States want China to allow fast appreciation of the Yuan so that their exports to China become competitive. Also a stronger Yuan would make Chinese exports lose some of their competitiveness, which in turn would make these countries gain some of their lost export values.
But China has now made it clear that it will only allow gradual and staggered appreciation of Yuan , arguing that it is in the best interest of the world.
China says NO to fast appreciation in Yuan
November - 29 - 2009 - Sunday
