G-20, Chinese Currency | featured news

The announcement, which you can read in English here, means the end of nearly two years of fixing the Chinese currency to the U.S. dollar, a move that most economists, including many in China, believe is on balance good for both the world and China in the long run. It will make China the most popular attendee at next week's meeting of the G-20 nations in Canada, and it will please traders who have been betting China will allow the yuan to appreciate.

A letter in advance of a G-20 meeting warned of economic relapse if stimulus programs are withdrawn, and hinted that China’s currency remains too weak.