China hints at flexibility on yuan, none on South China Sea dispute
During a meeting with President Barack Obama on November 12, Chinese Premier Wen Jiabao indicated his government was willing to adopt a more flexible approach concerning fluctuations in the yuan, according to Bloomberg News.
The US and other nations have increased calls for China to allow its currency to trade more easily. Bloomberg News cites reports by China’s official television station, China Central Television.
China, however, would not address another controversial issue during last week’s ASEAN summit – ongoing territorial disputes over the South China Sea. China’s official news agency Zinhua reports that Jiabao reaffirmed China’s official stance and said any negotiations would be conducted with individual nations.
“I don’t want to discuss this issue at the summit, however, leaders of some countries mentioned China on the issue. It’s impolite not to make a return for what one receives. So, I am willing to reiterate China’s stance,” he told Xinhua.