From AFP:
China will maintain a weak yuan until its export sector has recovered from the global crisis, prioritising concerns at home despite growing pressure from its major trading partners, analysts say.
The United States and European Union have been pushing China to let the yuan fluctuate, but their calls have so far fallen on deaf ears as Beijing is focused on creating enough jobs to avert social unrest, they said.
“Their focus is domestic issues, not foreign issues,” Ben Simpfendorfer, a Hong Kong-based economist at the Royal Bank of Scotland, told AFP.
