French Foreign Minister to Pressure Beijing on Yuan

Posted September 12th, 2011 at 4:30 am (UTC-5)
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French Foreign Minister Alain Juppe says China's currency is undervalued, and he will press Beijing on the yuan during a three-day visit beginning Monday.

Juppe told reporters in Australia Sunday that a strong yuan would help bolster the euro, which is in danger of collapsing under the massive debt incurred by weaker members of the European Union.

During his stay in China, Juppe will meet with his Chinese counterpart Foreign Minister Yang Jiechi and other Chinese leaders.

Beijing has long maintained strict controls on its currency, prompting criticism from the United States and other nations that it artificially holds down its value in order to give Chinese exporters a trade advantage.