China's Wen: Yuan is not undervalued and helped world recover

Chinese Premier Wen Jiabao rejected a call by the U.S. and other nations for an increase in the value of the yuan. He suggested that the demand is nothing more than protectionism. "I can understand some countries' desire to raise exports, but what I do not understand is depreciating one's own currency and attempting to pressure others to appreciate, for the purpose of increasing exports," Wen said. "In my view, that is protectionism."

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China Daily (Beijing) · Xinhuanet.com (China) · Xinhuanet.com (China)

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