My China B2B Latest News
As the U.S. President Barack Obama vowed to get "much tougher" with China on exchange rates and trade, economists from Beijing said China should not give in to increased U.S. pressure that stems from its domestic problems.
Obama's talk of putting "constant pressure" on China to strengthen the yuan so to ensure the price of U.S. goods was not artificially inflated has drawn heated comments from economists in Beijing.
"His words are only aimed to appeal to domestic interest groups," said Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University.
Given China's growing international clout and the lack of jobs in the United States, Obama will certainly try to make China change its currency policy as this is an easy way to weaken China's export industry, she said.
Obama's talk of putting "constant pressure" on China to strengthen the yuan so to ensure the price of U.S. goods was not artificially inflated has drawn heated comments from economists in Beijing.
"His words are only aimed to appeal to domestic interest groups," said Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University.
Given China's growing international clout and the lack of jobs in the United States, Obama will certainly try to make China change its currency policy as this is an easy way to weaken China's export industry, she said.
Your News
Comments