Yuan to be discussed at G7
2 December 2005
The flexibility of China's currency will be a topic of discussion at this weekend's meeting of Group of Seven (G7) finance ministers and central bank governors in London, Reuters reported, citing a senior German government source. Meanwhile, US Treasury Secretary John Snow said he expects China to make its currency more flexible by March, when US lawmakers may consider legislation to slap tariffs of 27.5% on Chinese imports. US manufacturers say China's alleged undervalued currency gives it an unfair advantage in world markets.
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