China's Wen Jiabao: 'Dont pressure us to raise RMB rates'

At the EU-China 6th Business Summit, Wen Jiabao, Chinese Prime Minister asked EU to stop pressuring China to appreciate its currency exchange rate.

Wen Jiabao underlined that depreciation of yuan could create social tensions in China which could be a disaster for the world.

Yesterday, Eurozone leaders, who met Wen Jiabao, said they were disappointed with the lack of movement the Chinese yuan has shown since Beijing announced plans to let the currency move more flexibly.

China has long faced pressure from Europe and the United States to revalue the yuan, which Western states say is being kept artificially low to boost exports. In June, Beijing said that it was willing to let the currency move more fluidly.

EU-China leaders were gathered at the Business Summit to discuss innovation and creativity as tools to overcome the current crisis and lay the foundations for steady growth.

Source EbS

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[xrey2000]

All this BS about rising the RMB got nothing to do with boosting the US economy or making US more comparative. If China rise the value of the RMB all the corporations will just move their factories to another country with cheaper labor like Vietnam or India, they will never going back to the US. The US just want to contain China economy.

[Phead128]

America shouldn't lecture China on how to properly aid global rebalancing and world recovery.

It was the greedy bankers who over leveraged risky assets to people who cannot pay them back that imploded the housing bubble and caused this world crisis to begin with.

China should not listen to the US, arrogant enough to cause a recession, then ask for help to get out of it by screwing up China's economy.

[Ailike3]

Ohhh He told them!

[dlobrown8888]

@MrVictorcarolina You're going to have to think twice before you make nonsense disgusting comments on other countries and especially China. Its your peril.

[ChoiHsinMath]

Fucking president Wen, full of lies.

[samfisherman007]

@overcastingasshole alright overcasting "ASSHOLE"

[MrVictorcarolina]

IDIOT CHINA PEOPLE!!! ALL PEOPLE IN THIS WORLD DONT LIKE CHINA PEOPLE BECAUSE THE BEHAVIOR IS LIKE MONKEY,THE WAY EAT,AND TALK,YOU CHINA PEOPLE YOU BELONG IN PLANET OF THE APES IDIOT!!!LAST TIME I SAW CHINA PIG INSIDE RESTAURANT THEY ATE LIKE A PIG VERY NOISY SHIT!!!!

[killtheyank]

China don't listen to a SHIT those greedy fat ass Westerners say, go ahead fuck them and fuck their economy up good. You have full support from us oversea Chinese !!!

[killtheyank]

China don't listen to a SHIT those greedy fat ass Westerners say, go ahead fuck them and fuck their economy up good. You have full support from us oversea Chinese !!!

[QingyaLiu]

@MrVictorcarolina Never try to make us 1.4 billion people angry.It's not fun I promise.

[QingyaLiu]

@zcyier yes

[mikejaychen]

@MrVictorcarolina maybe its time your dumbass learned how to speak chinese, your gonna need it when China wants all its fucking money back. and vanish china? you must be too stupid to realize that if china goes under everyone goes under... where do you think all the shit in america comes from.