China Currency Under Pressure |
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May 2, 2011
For years, the chief source of tension between the world’s two biggest economies has been Washington’s concern that China undervalues its currency to bolster trade.
For years, the chief source of tension between the world's two biggest economies has been Washington's concern that China undervalues its currency to bolster trade.
Suddenly, it's become Beijing's concern, too.
Inflation is bubbling and consumer unhappiness is rising, as the price of imports chugs higher as measured in China's currency, the yuan. At the same time, international investors are wary of the yuan because of the government's close management of the currency.
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