China: the US try to revaluate Yuan

China reforms its currency rate

In brief: The negotiations between the US and China have been quite successful, however, there is still no information on the reform of Yuan revaluation.

The USA supports China’s tending to reform the mechanism of Yuan exchange rate. Thus, the US minister of finance Timothy Geithner considers the negotiations on this problem with his Chinese colleague to be quite useful.

The negotiations between the US and China have been quite successful, however, there is still no information on the reform of Yuan revaluation. The US, according to Gethner’s words, are expecting China’s initiative in this field. The data about the reform of Yuan exchange rate was also confirmed by the head of China Hu Jintao on Monday. Official Washington, in it turn, considers the Yuan rate to be minimized which could be a reason of the US deficit in trading whit China.

Maria Velikanova
2010-05-25 14:28, Currency news.

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