KTC Capital Supports Asia Currency Measures by G20

Online, November 16, 2010 (Newswire.com) - Of the several currencies in question, the continued false valuation of the Yuan against the US dollar is the largest threat to global trade and growth. State economists claim that China's currency is artificially weak and gives Chinese exporters an unfair advantage as well as leading to Beijing building huge foreign reserves.

Several finance ministers of the G20 countries have committed to avoid competitive devaluations, but for now it is voluntary instead of policy. The progress is slow, as is China's commitment to move to a market-driven exchange rate. Chinese officials claim that Beijing has an "unwavering" commitment to reform its currency system, but that global economic stability is needed to accomplish it.

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