china-will-not-let-renminbi-appreciate-in-2010

China will not let renminbi appreciate in 2010

Respondents to a poll conducted by FinanceAsia say that China's currency will not appreciate during 2010.

China is under increasingly strong pressure from the US and Europe to let its currency rise, but readers of FinanceAsia are confident that it will not yield this year. Indeed, half the respondents to our poll last week said that China will delay currency appreciation until at least 2011.

China's foreign exchange reserves grew by $127 billion in the last quarter of 2009 to reach a total of $2.4 trillion and its economy grew by 10.7% 8.7% for the full year, which analysts say is adding to the pressure on China to let its currency rise. According to our 117 poll respondents, a policy change in 2010 is most likely to happen in...

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