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November 23, 2009

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Global Pressure On Yuan May Hit Growth

Global pressure on China to lift the value of the yuan against the dollar could stoke risks to growth in 2010, an economist at a state think-tank has said, warning of a deepening dilemma facing policy makers.

Yu Bin, head of macroeconomic research at the State Council Development Research Center, said on Saturday the nation could enjoy annual growth of over 8.5 percent next year, but currency pressures, falling consumer demand and other worries could erode that growth.

Yu said the Chinese economy faced risks if the dollar continues to depreciate against other major currencies, and from pressure to let the yuan rise in value against the dollar.


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