China Daily: no need to press on China over yuan reform

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Monday April 18, 10:43

China Daily: no need to press on China over yuan reform

(by Sh.Nakata)

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China Daily: no need to press on China over yuan reform

China sees no need for the US to press on it over the currency reform, according to the official China Daily.

The pressure will further «distract the United States from attending to the domestic causes of its problems,» the newspapre said. "Pressurizing China will be futile, if not even complicating the situation."

China’s unwillingness to unpeg its currency from dollar has already harmed the US economy, Washington said. The US Senate voted earlier this month to threaten China with tariffs on exports to the US unless it unpegs yuan from dollar.

But the move met fierce resistance in China that said the US should pay more attention to its budget deficit that threatens global markets. "Nevertheless, instead of looking seriously at these problems subject to domestic policies, some U.S. politicians are pointing the finger at other countries, China in particular," according to the newspaper.

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