EU presses china to act over cheap yuan
Baku, October 6 (AZERTAC). Eurozone policymakers have urged China to allow its currency, the yuan, to rise in value significantly.
The plea came during talks in Brussels with Chinese Prime Minister Wen Jiabao on Tuesday.
A top eurozone minister, Jean-Claude Juncker, called for a "significant and broad-based appreciation" of the yuan.
The US authorities have accused China of keeping the yuan artificially low against other world currencies, making Chinese goods cheaper globally.
Mr Juncker, chairman of the 16-nation eurozone finance ministers, told a news conference: "China`s real effective exchange rate remains undervalued."
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