G7 tells China to take its currency off leash
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The Group of Seven rich nations took   aim at China on Saturday, urging Beijing to let its currency   rise faster to ease imbalances in trade and capital flows that   pose one of the biggest risks to global growth.
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U.S. Treasury Secretary Henry Paulson urged China on Tuesday to let its currency rise faster in value and warned that rising protectionism threatened U.S.-China relations.
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A senior Chinese official has urged the United States to take action to stop the slide of the dollar and restore equilibrium to global currency markets, China Radio International reported Saturday.
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The US and China both criticise the value of each other's currencies at their economic summit.
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The dollar rose in Asia after China gave the Group of Seven no timetable to move to a flexible exchange rate, resisting a US government effort to stop Asian nations weakening their currencies.
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In the face of growing international pressure, Chinese officials told top US officials on Friday that they would continue to push ahead with plans to float or revalue their currency, but avoided giving a date to begin the transformation.
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Global finance chiefs sought on Friday to put pressure on China to let its currency rise in value to ease global trade imbalances and also aimed to craft a message to soothe turbulent financial markets.
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BEIJING -- The deputy governor of China's central bank said it could take "a couple of years" to loosen controls on the value of the nation's currency, despite exhortations by the Bush administration to move quickly so that Chinese exports lose some of their low-price advantage.
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China has no immediate plans to let the value of its currency rise, despite renewed pressure at a weekend meeting of Group of Seven finance officials, the government said Monday.
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SINGAPORE: Chinaâs reluctance to unshackle the yuan when the dollar is plumbing record lows against the euro risks sparking political tensions that could complicate the already fraught task of ironing out global economic imbalances.
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Efforts to ease the Chinese economy off the boil are working but rapid exchange rate change is off the agenda, the Chinese president says.
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The G7 free-market powers agreed  to single out China again in repeat appeals on Saturday for  flexible exchange rates, but Japan's tumbling yen escaped a  similar fate despite mounting concern in Europe.
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DAVOS, Switzerland  - China has lost faith in the stability of the U.S. dollar and its first priority is to broaden the exchange rate for its currency from the dollar to a more flexible basket of currencies, a top Chinese economist said Wednesday at the World Economic Forum.
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Chinese President Hu Jintao says he plans to loosen the yuan&#39;s decade-old peg to the US dollar, but only under the right conditions.
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G7 leaders renew pressure on China to relax controls over its yuan currency, at the end of their meeting in Germany.
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Chinese Prime Minister Wen Jiabao has rejected pressure for exchange rate reforms and criticized the United States for not doing its part to keep the dollar from weakening.
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China came under renewed pressure Saturday from the Group of Seven to make its yuan more flexible, while Japan emerged from the meeting without a public scolding, despite criticism beforehand that its weakened ...Comment