Obama pleased with 'first step' in RMB reform
By Ding Qingfen and Wu Chong | China Daily | Updated: 2010-06-29 07:50
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A bank teller counts 100 yuan notes in a Bank of China branch in Beijing. Nobel laureate Robert Mundell warned that a major appreciation of the Chinese currency would hurt the nation. Natalie Behring / Bloomberg |
TORONTO - US President Barack Obama believes that China's currency will rise by a large margin and Washington will be "paying attention" to Beijing's further exchange rate reforms in the coming months.
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