China and US meet on yuan, but no quick fixes seen

U.S. and Chinese officials met on Wednesday 25 February for talks on China's financial policies, including discussion on the yuan peg. John Snow said he understood Chinese policymakers arguments that China cannot change yuan policy overnight.

U.S. Treasury Secretary John Snow, speaking in Washington as the talks got started, calmed speculation of an imminent move, saying he understood the argument from Chinese policymakers that China cannot change yuan policy overnight.

"They pointed out, and