05 OCT 2010
By Maryam Nemazee and Jonathan Stearns | Bloomberg
European Union Trade Commissioner Karel De Gucht said the undervaluation of China’s yuan poses a “real problem” while expressing doubts about the ability of the EU and the U.S. to influence Chinese foreign-exchange policy.
“There is a real problem with the value of the Chinese currency,” De Gucht said in a Bloomberg Television interview today in Brussels. “I have my doubts whether you can influence that by international pressure.”
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