China to Let Market Forces Weigh on Value of Yuan – David Lague

From the New York Times:

China will allow market forces to exert more influence over the value of the yuan as the country moves toward a fully convertible currency, Prime Minister Wen Jiabao said on Wednesday.

His remarks came after European financial leaders visiting Beijing stepped up demands for a stronger Chinese currency, also known as the renminbi, to curb Europe’s trade deficit with the Asia country. [Full text]

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