EU to Pressure China on Currency – BBC News

_39337924_yuan_ap203b.jpg From BBC News:

The European Union (EU) is expected to pressure China to allow its 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. ]

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