Greenspan calls for flexibility on China yuan

Federal Reserve Chairman Alan Greenspan on Tuesday 7 June urged China to ease tight controls on its exchange rate for the sake of its own financial health, but China's central bank chief said the country needs more time.

"I've said on numerous occasions I think it is to the advantage of China to allow a little more flexibility in the exchange rate," Greenspan told a conference of central bankers in Beijing, speaking via satellite video link from Washington.

"It is something that I am certain

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