Economist says China should resist yuan pressure

A senior Chinese economist and government advisor has said China should not give in to further US pressure to change the value of the yuan following last month's shift.

Yu Yongding, an economist at the Chinese Academy of Social Sciences and member of the monetary policy committee under the People's Bank of China (PBOC), said in an interview in the China Economic Observer that he anticipated further pressure from the US in the wake of the 2.1 pct revaluation and move to a currency basket at the

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