A strong yuan appreciation could hinder Chinese and global growth and cause interest rates worldwide to rise, economists said, ahead of the G20 summit.
Policymakers of the G20 will meet in Seoul on Thursday and Friday for the summit, which is expected to center on coping with global economic imbalances and lowering the chances of a currency war.
In a written reply to a French newspaper, President Hu Jintao highlighted four issues on which China would like to focus during the summit, including sustaining global economic recovery, pushing forward international financial reform, and resisting trade protectionism.
Although the United States has been putting pressure on China to allow its currency to rise and pledged to bring the topic to the G20 meeting, many economists believed China's currency issues will not be in the spotlight, especially since the US launched loosening monetary policies. |
