China's Wen rebuts claims that yuan is undervalued

China's premier, Wen Jiabao, rebutted arguments that the yuan is undervalued and should appreciate and said other countries should not pressure the country about its exchange-rate policy.

Wen, speaking Sunday as the Chinese legislature's annual meeting ended, also warned that the world economy might face a so-called double-dip recession, given financial-system risks and continued high unemployment in some countries.

Wen nonetheless did not rule out the possibility that the yuan could rise in value and reiterated that the country would continue to reform its currency system, according to reports.

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- Posted: 2010-03-15 10:48:05

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