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They are wines that require intelligence, experience, culture, patience and time, all elements so different from the simple, fast appreciation of wine today".
"We are not in favor of excessively fast appreciation of Chinese currency," said Chen Deming, vice minister of commerce, who is scheduled to become the minister next year.
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Articles and editorials in government-controlled newspapers have argued that the time is right for faster appreciation.
Hong Liang, a Goldman Sachs economist based in Hong Kong, expects faster appreciation next year but not a one-time revaluation.
A sustained appreciation of the yuan could ease frictions somewhat with the United States, the European Union and Japan, all of which have criticized China for not allowing faster appreciation.
UBS Securities said, "For now, the weakening exports, strong imports and narrowing trade surplus should help China resist calls for a faster appreciation" of the renminbi.
But it noted that if the renminbi continues to gain — either through faster appreciation or sustained higher inflation — the surplus will be smaller.
But while some Chinese experts want faster appreciation, the political consensus within the government is to allow it to continue to gain value slowly.
Mr. Trichet and others were expected to press China to allow faster appreciation of its currency, the yuan, whose value is closely pegged to the dollar.
Its refusal to allow a faster appreciation of the yuan has been blamed by some for helping build up the huge global financial imbalances that now seem to be unwinding so fast.
China's recent decision to allow a faster appreciation of its currency against the dollar has been driven, in no small part, by the desire to head off nasty domestic inflation.The omitted facts are more troublesome, still.
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CEO of Professional Science Editing for Scientists @ prosciediting.com