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SLUG: 2-307067 China / U-S Currency
DATE: NOTE NUMBER: |
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DATE= 9/2/2003 TYPE=CORRESPONDENT REPORT TITLE=CHINA-U-S CURRENCY (S) NUMBER=2-307067 BYLINE=LUIS RAMIREZ DATELINE=BEIJING CONTENT= VOICED AT: INTRO: Pressure is growing on China to re-value its currency, with the International Monetary Fund now urging Beijing to remove strict controls on its exchange rate. As V-O-A's Luis Ramirez reports from Beijing, China does not appear ready to concede.
TEXT: The head of the International Monetary Fund, Hort Kohler, says China should move toward a more flexible currency system. His comments Tuesday in Beijing coincided with a visit by U-S Treasury Secretary John Snow. The U-S official arrived in Beijing with a mandate from Washington to call on the Chinese to raise the value of their currency. Some U-S politicians argue the current fixed trading rate makes Chinese products artificially cheap and cheats Americans out of jobs. Chinese Foreign Ministry spokesman Kong Quan says, however, Beijing has no plans to change its policy. /// KONG ACT, EST & FADE /// He says China has dealt with such pressure in the past, such as during the 1997 Asia financial crisis. He says China will continue to keep a stable currency. Mr. Snow is to meet with China's finance minister and other officials on Wednesday before continuing on his three-nation Asian tour. (Signed) NEB/HK/LR/KPD |
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