last week i did write about the huge growth of Chinese economy last month, by keeping the Yuan (undervalued) at the same level of the VS dollar. 40% below its value. Now premier Wen jiabao has rejectedthis aquisitions, he said that keeping the Yuan stable was very important for global economy which is in a downturn.
The relations between China and the USA did not get any better by this incident. He said: The other countries are just finger pointing at each other who made a mistake, but they don't do anything for a fast recovery of the economy. The relation chip between China and the USA was not very good untill this moment while they are still dilivering weapons to Taiwan, a dicision of former president George W. Bush. And Barack Obama visited the Dalai Lama. ant these two are not relly loved by the Chinese gouvernment.
i do not know if the Yuan is undervalued but China is very good in hiding information for the rest of the world. But it is really bad that the relations between China and the werstern countries are worsening again because they just started to spread some more information about their country. Although Google had to limit the information that could be seen by Chinese people which is another issue between these countries.
http:// news.bbc.co.uk/2/hi/asia-pacific/8566597.stm
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