Sunday, March 14, 2010

Chinese Premier: Currency not undervalued, warns of "Double Dip" Recession

by Bill McBride on 3/14/2010 01:15:00 AM

From Bloomberg: China’s Wen Rebuffs Yuan Calls, Is ‘Still Worried’ About Dollar

"I don’t think the yuan is undervalued,” Wen said at a press conference in Beijing marking the end of China’s annual parliamentary meetings. Dollar volatility is a “big” concern and “I’m still worried” about China’s U.S. currency holdings, he said.
And from the WSJ: Chinese Premier Warns of 'Double Dip' Recession