From BBC News:
The European Union (EU) is expected to pressure China to allow its currency to strengthen more quickly at a bilateral summit in China this week. The weak yuan has buoyed exports to Europe, which has seen its trade deficit with China soar.
“We will have a large tour d’horizon on all matters, including of course the currency question,” European Central Bank boss Jean-Claude Trichet said. But China wants to loosen control of its currency at its own pace. [Full Text]
See also CDT’s posts on Renminbi revaluation .
[Image: Europe is calling for the yuan to be strengthened, from AP. ]
