The
European Union's future economy commissioner complained Wednesday about the high value of the
Chinese currency against the euro, saying it was not acceptable that it should risk Europe's economic recovery. Olli Rehn was the latest in a string of EU officials to try and pressure Beijing to allow the renminbi to rise against other currencies which would help foreigners export more to China _ and possibly cut the cost and reduce China's massive export flow to the rest of the world.
China shrugged off a November plea to let its currency appreciate in talks with policy makers from the 16-nation eurozone including European Central Bank President Jean-Claude Trichet.
Rehn said Wednesday that "it is not acceptable that China's currency dumping is risking economic recovery in Europe." He also complained that China had helped wreck chances of a global climate change accord in Copenhagen last month, saying it was "clear that China did not want to commit itself to seriously meaningful objective
For more: Rehn: China currency rate not acceptable -AP/Taiwan News Online
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