10:59 12/03/2010 » Economy

Obama urges China to stop depressing national currency

 President Obama is stepping up pressure on China to stop fueling the world's biggest trade imbalance by artificially depressing the value of its currency, and Beijing is signaling it may soon heed those pleas.

Under political pressure to address burgeoning job losses that many blame in part on China and its aggressive exports policy, Mr. Obama on Thursday reminded the Asian giant that it pledged last year at the Group of 20 economic summit to pare its lopsided trade surplus with the U.S.

Source: Panorama.am

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