Flexible yuan would help world economy says Snow

US Treasury Secretary John Snow said on Tuesday 14 June that the world economy would benefit from a more flexible Chinese yuan exchange rate.

"Flexibility in its (China's) currency so it gets price signals right will help it and the global economy function better," Snow said during a meeting at the Centre for European Policy Studies think-tank.

He told the meeting Washington's dialogue with China was going well.

Snow also vowed to control U.S. spending as he voiced optimism about the world's ec