Chinese School - Soros opposed excessive pressure on RMB

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Soros opposed excessive pressure on RMB

www.chinanews.cn 2005-02-01 13:51:38

Chinanews, Jan.31 - At the World Economic Forum currently being held in
Davos, Switzerland, big-time international financier George Soros
indicated on January 29 that western countries should not exert excessive
pressure on the RMB to appreciate.
The issue of the RMB versus the US dollars has become a focal point at
the World Economic Forum over the past few days.
At a press conference of the Davos World Economic Forum on January 29,
Soros made an appeal for western countries not to exert too much pressure
on the Chinese government over the issue of the RMB exchange rate, given
that China's economy is currently growing rapidly and showing relatively
good prospects.
Soros also mentioned that since China has been imposing strict controls
on its exchange rate markets, it would be impossible for international
"hot money" to force the RMB to appreciate.

          ��Chinese minister to attend G7 to discuss the RMB (2005-01-28)
          ��Wrong timing for adjusting the RMB (2005-01-27)

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