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Friday, October 15, 2010

Currency war!


China yuan warning ahead of US currency report

yuan notesCountries including the US have accused China of keeping the yuan artificially low
The US should not use the weak yuan as a "scapegoat" for its own economic problems, a Chinese government spokesman has said.
At a regular briefing, commerce ministry spokesman Yao Jian said China would continue to reform its currency policy, but at its own pace.
The US government has delayed a report - which was expected on Friday - which could officially brand China a "currency manipulator".
Despite criticism, the US has so-far stopped short of that formal move.

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