在线国产一区二区_成人黄色片在线观看_国产成人免费_日韩精品免费在线视频_亚洲精品美女久久_欧美一级免费在线观看

  Home>News Center>China
       
 

China questions dollar slide
(Agencies)
Updated: 2004-11-29 16:26

Chinese Premier Wen Jiabao has criticized the United States for not taking measures to halt the slide in the dollar and insisted that China will not revalue the yuan under pressure.


Chinese Premier Wen Jiabao speaks during a trilateral meeting with Japan's Prime Minister Junichiro Koizumi and South Korea's President Roh Moo-hyun on the sidelines of the 10th Association of Southeast Asian Nations (ASEAN) Summit in Vientiane, Laos, November 29, 2004. [newsphoto]

"We have to ask a question. The US dollar is depreciating and it is not managed," he told reporters in Laos late Sunday when asked about pressure to change the yuan's decade-old peg to the dollar.

"What is the reason for that? Shouldn't the relevant parties adopt measures?" he asked.

Turning the tables on the United States, he contrasted the lack of US attention to its currency with China's attitude during the Asian financial crisis seven years ago.

"China is a responsible country," he said. "In 1997, during the financial crisis, we maintained the basic stability of the yuan and made the kind of contribution that we should."

At the time, many hailed Beijing's decision to keep the yuan unchanged, providing a rare oasis of relative strength and certainty while all around the region one currency after another collapsed.


Yuan and dollars. China's central bank has reiterated that while it plans to loosen the tightly controlled exchange rate system, no immediate adjustments to the current trading band will be made. [AFP]
Now US exporters complain that the yuan, pegged at about 8.3 to the dollar since 1994, is undervalued and gives China an unfair advantage by making Chinese exports cheaper.

"Honestly speaking, the more speculation (about a yuan revaluation) there is in society, the more unlikely it is that the necessary measures can be undertaken," Wen told journalists.

Chinese analysts estimate that this kind of speculation has allowed up to 30 billion dollars of "hot money" to enter across China's borders as investors hope for a revaluation of the currency.

Their gamble is that China's central bank will revalue the yuan, giving them an immediate overnight profit.

However, a decision to adjust the currency policy after a decade of stability was not to be taken lightly, the premier indicated.

"You must consider the impact on China's economy and society and also consider the impact on the region and the world," he said.

A series of important conditions would have to be in place before any major changes could take place, he said.

"The most important thing is that we need a stable macro-economic environment, a healthy market mechanism and a healthy financial system," he said.

The premier also said policy makers must have an appropriate plan to keep the yuan stable at a "reasonable and balanced" level, while allowing the exchange rate to be more flexible.

Chinese President Hu Jintao said during a meeting with US leader George W. Bush in Chile a week ago that Beijing planned to loosen the yuan's peg -- but only under the right conditions.

"We will continue to push forward the reform on the yuan exchange rate, while maintaining overall stability in our economy," Hu was quoted as telling Bush ahead of the Asia-Pacific Economic Cooperation forum talks.

He indicated that China would seek to prevent wild fluctuations in the yuan exchange rate if and when the peg was loosened.



 
  Today's Top News     Top China News
 

China, Southeast Asia sign trade accord

 

   
 

China questions dollar slide

 

   
 

Hope slim for 141 in Shaanxi mine, 25 dead

 

   
 

16 officials in court for accident cover-up

 

   
 

Lai Changxing's limousine auctioned off

 

   
 

Ukraine: Court debates validity of election

 

   
  Koizumi: Japan ready to stop China aid
   
  HK may restrict bird slaughter to combat flu
   
  Legislature oversees local government
   
  Recorders of crashed plane decoded
   
  New regulations on lab safety kick off
   
  25 killed, 141 still trapped in Shaanxi mine
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  Related Stories  
   
Wen: No RMB change while speculation is rife
   
"Hot money" bet on RMB revaluation remains big threats
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 婷婷免费视频 | 久久久久免费 | 婷婷第四色| 国产一区不卡 | 婷婷五月在线视频 | 国产在线一区二区 | 欧美一级特黄视频 | 天天操女人| 欧美成人性生活视频 | 啪啪综合网 | 日韩欧美一区二区三区久久婷婷 | 日韩一级片在线观看 | 国产一区二区影院 | 精品国产999久久久免费 | 欧美视频在线一区 | 欧美精品久 | 亚洲欧美中文字幕 | 欧美又大粗又爽又黄大片视频 | 91视频精选 | 日狠狠 | 国产一区二区三区在线 | 国产最新av | 亚洲成人av在线播放 | 福利在线播放 | 久久免费视频观看 | 国产精品一区二区三 | 日本精品中文字幕 | 午夜免费福利 | 国产激情在线 | av手机在线 | 欧美三根一起进三p | 黄色一级片黄色一级片 | 亚洲第一视频网站 | 国产午夜精品一区二区三区视频 | 999毛片| 三级a毛片| 欧美视频在线观看一区 | 国产成人影视 | 91久久综合亚洲鲁鲁五月天 | 欧美精品在线免费观看 | 欧美一级特黄aa大片 |