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China Economy Weekly: Currrency and Trade Arguments, Rare Earths and Japan, Banks in Taiwan

Currency Issues:  Chinese Premier Wen Jiabao has there was no basis for the drastic appreciation of the yuan, the Chinese currency. He added the issue was an economic one and must not be politicized.

Critics have claimed that China keeps the level of the yuan low to win competitive advantages in trade. However, Wen said, there was no connection.

The yuan appreciated 55.2% from January 1994 to July 2010. Meanwhile, major currencies of the world had depreciated, with the US dollar dropping 2.5%, the euro 3.8% and the Japanese yen 19.5%.

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