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Currency tensions to continue

Posted on 12 October 2010

From Peopledaily.com.cn: Tensions over currencies are set to continue through the month running up to the Seoul G20 summit. Officials and economists have said a stronger yuan is not a panacea for global imbalances, and too fast an appreciation may add uncertainty to the fragile global economic recovery.
China’s foreign exchange policy was a central discussion point at the International Monetary Fund’s annual meeting from Oct 8 until Oct 10. The United States took the lead in claiming that an “undervalued yuan” as the primary cause of global imbalances and in calling for a faster yuan revaluation……………………………………….Full Article: Source

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