Obama presses China leaders to take responsibility of undervalued yuan

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

Obama in his meeting with Chinese President Hu Jintao emphasized the importance of fair trade. US accuses China for boosting its trade surplus by keeping yuan artificially low thereby creating competitive disadvantage for US companies. Chinese Foreign Ministry in response issued a release claiming that US unemployment and trade deficit is not caused by the undervalued yuan and its appreciation won't solve US difficulties.

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Mon, 14 Nov 2011 07:59:37 GMT

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