China calls U.S. yuan demands "unfair and harmful"

BEIJING (BestGrowthStock) – U.S. demands that China revalue its currency are “unfair and harmful,” Chinese Foreign Ministry spokesman Qin Gang said on Thursday.

Speaking at a regular news briefing, he also said that a “calm and rational” approach was needed to address the dispute about China’s yuan.

The U.S. Senate this week introduced a bill that threatens to levy duties on imports from China if Beijing does not revalue the yuan, which has been held in a de facto peg to the dollar since mid-2008.

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(Reporting by Chris Buckley; Writing by Simon Rabinovitch; Editing by Ken Wills)

China calls U.S. yuan demands “unfair and harmful”