China hits back at Obama over currency policy

China on Friday hit back at an attack from US President Barack Obama over currency policy, saying the yuan's value was not a political one and was not the key to global trade imbalances.

Mr Obama on Thursday called on China to adopt a "market-oriented" exchange rate policy, increasing the pressure on Beijing to allow the yuan - effectively pegged to the dollar since mid-2008 - to appreciate.

Tags:

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA