European Union Trade Chief De Gucht Says China's Yuan Poses `Real Problem'
05/10/2010 13:11 - webmaster
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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