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Sudden yuan rise would harm global economy -PBOC adviser
(Agencies)
Updated: 2010-04-08 14:21
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A sudden rise in the yuan would hurt the global economy as well as US consumers, Xia Bin, a member of the Chinese central bank's monetary policy committee, said on Thursday.
"It's not in the core interest of the US to see the yuan appreciate," Xia told a financial conference.
He added that China should peg the yuan to a basket of trade-weighted currencies within a few years.
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US Treasury Secretary Timothy Geithner said at the weekend that he was delaying an April 15 report on whether China manipulates its currency, ahead of a visit by Chinese President Hu Jintao.
