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mayingjiu

木虫 (正式写手)

[交流] 【Share】Fast yuan rise will be short-lived: report

BEIJING | Sun Oct 17, 2010 9:31pm EDT

A U.S. $100 banknote is placed next to 100 yuan banknotes in this picture illustration taken in Beijing October 16, 2010.
Credit: Reuters/Petar Kujundzic

(Reuters) - The accelerated yuan appreciation of recent weeks will not last long because China's trade surplus will soon peak, an official state newspaper reported on Monday.

An article in the overseas edition of the People's Daily said there had not been sufficient improvement in the economy at home or abroad to justify a speedy rise in the exchange rate.

China freed the yuan from a 23-month peg to the dollar in June and has let it gain about 2.8 percent against the dollar since then, with most of its rise coming after August.

The article cited Wang Jun, a researcher at the Chinese Academy of Social Sciences, as saying that China should not and would not bow to foreign pressure.

"If the yuan rises quickly under joint pressure from the United States and some other nations, that will mean China is manipulating its currency, won't it?" the report cited Wang as saying.

Wang's phrase appeared to be a reference to a decision that the U.S. Treasury Department had been due to make last week about whether to classify China as a currency manipulator. The United States opted to delay that decision until late November after U.S. congressional midterm elections and a G20 summit are out of the way.

The People's Daily said that pressure on the yuan to rise would soon decline because China's trade surplus was topping out. It dipped to $16.9 billion in September, a five-month low.
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小木虫(沙发+1,金币+0.5):恭喜抢个沙发,再给个红包
OMG!
2楼2010-10-18 10:26:42
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sgh_119

至尊木虫 (职业作家)


小木虫(金币+0.2):抢了个小板凳,给个红包
3楼2010-10-18 10:42:26
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sgh_119

至尊木虫 (职业作家)

~~~~~~thanks
4楼2010-10-18 10:48:29
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兰蝴蝶

木虫 (职业作家)

same share with others
i want to be a happy butterfly~~
5楼2010-10-18 11:14:52
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cat9924

铜虫 (初入文坛)

We are poorer anyway
6楼2010-10-18 12:48:06
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zimengyuan

铜虫 (正式写手)

Sorry, the share is the same with other,
7楼2010-10-18 20:59:14
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