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The U.S. president, Barack Obama, said he planned to raise the issue of the yuan value with Chinese officials in Beijing next week, Reuters reported from Washington.
China has long kept tight control of the yuan value on concerns over financial volatility and losing its policy control.
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Buying up United States Treasury bills helps goose production: China's central bank buys dollars in part to keep the yuan valued lower, making Chinese goods cheaper on world markets.
Nobel-prize-winning economist Paul Krugman, writing in the New York Times in October, noted that no-one seemed to mind if you talked about the pound's value, but talking about the yuan's value would sometimes draw disapproval.
On the potent issue of the yuan's value, however, stability is the watchword.
Tim Geithner, the treasury secretary, has resisted direct confrontation with China over the yuan's value.
And so John Snow, the Treasury secretary, went off to Beijing to request an increase in the yuan's value.
Earlier this month Beijing attempted to reduce the yuan's value in an effort to boost exports and growth.
Brock reckons that the yuan's value in dollar terms is arguably one-sixth of what it should be.
Besides, the yuan's value is still fixed each morning by China's central bank, and yuan assets are fenced in by capital controls.
Unlike the pound and other major currencies, the yuan's value is determined each day by the People's Bank based on movements the previous day.
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