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Thread: EU puts pressure on China to appreciate its RMB!

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[quote=ICEBERG,249717]For a long time, the appreciation of RMB has been the big concern between China and US. In the name of balancing the Sino-US trade, the US government has put much pressure on China to quicken its steps of the RMB appreciation. Compared wit US, EU is milder on this issue. But in recent days, EU has changed its attitude and calls for a rise of RMB.

Why? China's trade surplus over EU and the dollar decline in recent days are the two main reasons. The Euro-dollar exchange rates has created a new record recently because of dollar decline. These pushed EU to require China to raise its RMB.

However, it suggests that China will not give in to the foreign pressure to faster its RMB appreciation. On Oct.10th, Liu Jianchao, the spokesman of Ministry of Foreign Affairs reiterated that the RMB has been appreciated about 9% since the adoption of exchange rate reform. Also China will push its reform ahead and be willing to hold dialogues with concerned parties.

China has the right to make its policy of foreign exchange rate in accordance with its national situation and economic growth. Both US and EU should think about themselves and find other ways to solve the problem, not just replying on the appreciation of RMB.  
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