Bush: China should move towards flexible yuan
10 November 2005
US President George W Bush told reporters from Asian countries ahead of his visit to Asia next week that he will explain to China's leaders that allowing the yuan to be determined by market forces is in the best interests of the global economy. Though he credited China with taking a "strong step forward" in allowing the yuan to appreciate 2.1% against the US dollar in July, he urged the country to "advance toward a market-based valuation of their currency for the sake of the world, not just for the sake of bilateral relations".
