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China says NO
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Premier Wen Jiabao said no to the European Union that China would not let its currency rise, which he said an appreciation in the yuan could hinder Chinese growth.
After a summit meeting with the European Union, Wen told reporters that China would remain renminbi steady under the circumstance of financial crisis. “Now some countries, on the one hand, want the renminbi to appreciate but, on the other hand, engage in brazen trade protectionism against China,” he said. “This is unfair. In fact, it amounts to restricting China's development.”
According to foreign media, President Obama was given the same answer during his maiden trip to Beijing.
After a summit meeting with the European Union, Wen told reporters that China would remain renminbi steady under the circumstance of financial crisis. “Now some countries, on the one hand, want the renminbi to appreciate but, on the other hand, engage in brazen trade protectionism against China,” he said. “This is unfair. In fact, it amounts to restricting China's development.”
According to foreign media, President Obama was given the same answer during his maiden trip to Beijing.
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Post comment Comment (19 replies)
- Reply woods
- Yeah,China is a sovereignty.We'll neither fall into the scam of the occident nor bow beneath their pressure.Just thinking about Japan.
- Reply tjgongzuo
- the pressure of RMB EX change rate rising is still there for long run. Western believe that RMB is under estimate its value.
- Reply Samaritan
- woods: Yeah,China is a sovereignty.We'll neither fall into the scam of the occident nor bow beneath their pressure.Just thinking about Japan.u're right. especially in the terms of Japan
- Reply Samaritan
- lingering: oh,today two teachers told us, why obama visited China's purpose like that.exactly.
- Reply Samaritan
- tjgongzuo: the pressure of RMB EX change rate rising is still there for long run. Western believe that RMB is under estimate its value.they think the so-called undervalued of rmb makes Chinese goods more cheap and competitive.
- Reply Lizzyjiang
- I saw this news in The Economist. Many western netizens remarked it. More than half of them threw stones at us. They said that we were getting huge profit from global financial crisis and we didn't know what was fair trade at all. To some extent, I have to admit that they are true. Our government refused to appreciate in RMB which could do great help to domestic economic growth but in some way it did disobey rules of WTO. If the EU or America set trade barriers to our cheap and competitive export goods, we will be forced to increase the value of RMB.
- Reply Samaritan
- Lizzyjiang: I saw this news in The Economist. Many western netizens remarked it. More than half of them threw stones at us. They said that we were getting huge prmaybe you're right. but not for now. rise of currency is a complicated thing that will influence domestic and world economy. China is in the critical time of recovery. I think the appreciation issue would be considered in one or two years when the crisis is over.
- Reply Lizzyjiang
- Samaritan: maybe you're right. but not for now. rise of currency is a complicated thing that will influence domestic and world economy. China is in the criticalYou are right that China government just put off the appreciation issue. Macroeconomic Control will buy some time for us to recover and develop from this great recession.
- Reply Samaritan
- Lizzyjiang: You are right that China government just put off the appreciation issue. Macroeconomic Control will buy some time for us to recover and develop from tI think so. and what is your major? business or economics?
- Reply Lizzyjiang
- Samaritan: I think so. and what is your major? business or economics?I majored in Business English...
- Reply minyingtao
- Lizzyjiang: I saw this news in The Economist. Many western netizens remarked it. More than half of them threw stones at us. They said that we were getting huge prIn one word:everyone is represent his own interest
- Reply minyingtao
- A complex world
- Reply Lizzyjiang
- minyingtao: In one word:everyone is represent his own interestYes, we do.
- Reply pad
- Our teacher says if the RMB currency rise now, there will be a new price rising in our country which does no good to domestic economic.
- Reply Samaritan
- pad: Our teacher says if the RMB currency rise now, there will be a new price rising in our country which does no good to domestic economic.yeah. but it will further influence our export.
- Reply yyjjxx12345
- are you got it from the china daily or in the net
