Bernanke urges China to let yuan rise
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U.S. Federal Reserve Chairman Ben Bernanke said on Friday that Chinese policy-makers risk losing control of their economy unless they let their yuan currency rise in value and strengthen their financial system.
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Global finance chiefs sought a way on Friday to put pressure on China to let its currency rise in value to ease global trade imbalances and also aimed to craft a message to soothe turbulent financial markets.
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Federal Reserve Chairman Ben S. Bernanke warned policymakers to make sure individual workers are not allowed to suffer too much from the effects of free-trade, globalization, technological progress and other developments that have boosted economic progress for the nation as a whole.
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China came under pressure on Saturday  to let its currency rise faster to ease imbalances in trade and  capital flows that pose one of the biggest risks to global  growth.
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Ben S. Bernanke expressed concern today over trade imbalances between emerging and industrial nations.
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On Sunday, Chinaâs central bank deputy governor Li Ruogu made remarks on the development on Chinese economy stressing at the US efforts to make yuan convertible.
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U.S. Treasury Secretary Hank Paulson is on a mission to convince Beijing to allow its currency to rise against the dollar. He's unlikely to have any more luck than his predecessors
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China came under pressure on Saturday   to let its currency rise faster to ease imbalances in trade and   capital flows that pose one of the biggest risks to global   growth.
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U.S. lawmakers stepped up pressure on  China to boost the value of its currency as high-level talks  aimed at persuading the country to quicken economic reforms  moved toward a conclusion on Friday.
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Global finance chiefs sought a way  on Friday to put pressure on China to let its currency rise in  value to ease global trade imbalances and also aimed to craft a  message to soothe turbulent financial markets.
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Federal Reserve Chairman Ben Bernanke on Thursday held the door open to more interest rate cuts to help the struggling U.S. economy, but told Congress the central bank expects growth to pick up later in the year.
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SINGAPORE: Chinaâs reluctance to unshackle the yuan when the dollar is plumbing record lows against the euro risks sparking political tensions that could complicate the already fraught task of ironing out global economic imbalances.
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Beijing is not ready to loosen its currency peg to the US dollar, a People&#39;s Bank of China governor said Saturday at the Group of 20 economic summit in Berlin.
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China called on U.S. lawmakers on Thursday to address issues such as the valuation of the yuan through a dialogue of equals instead of trying to put pressure on Beijing.
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Chinaâs central bank said it would gradually promote reforms of the yuanâs exchange rate regime and improve its foreign exchange management this year.
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WASHINGTON: The International Monetary Fund yesterday called on China to drop the yuan currency&#39;s tight peg to the dollar to help keep domestic inflation under control and bring more balance to the global economy.
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China came under renewed pressure Saturday from the Group of Seven to make its yuan more flexible, while Japan emerged from the meeting without a public scolding, despite criticism beforehand that its weakened yen was hurting other economies.