China Resists European Pressure On Currency – Tony Barber and Richard McGregor

From Financial TImes:

The European Union and China locked horns over exchange rates on Tuesday after authorities in Beijing deflected a European call for a rise in the level of the renminbi.

Only hours after eurozone finance ministers said the renminbi’s exchange rate should more accurately reflect the country’s vast and growing current account surplus, China’s central bank set a noticeably low official reference rate for the currency against the dollar. Market participants interpreted the action as a signal that China has no intention to yield to foreign pressure for a faster appreciation of the renminbi against the currencies of its western trade partners, although there was no firm evidence of this. [Full Text]

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.