VIENTIANE, Laos -- China Premier Wen Jiabao launched an indirect attack on the U.S. failure to halt the dollar slide while vowing not to revalue the yuan under pressure. In the strongest sign yet of Beijing's concern at the weakening dollar, Wen questioned the American government's management of its currency, The South China Morning Post reported Monday.
"China is a responsible country. We have ensured that the exchange rate of the renminbi remained stable during the 1997 Asian financial turmoil and, by doing so, contributed to the resolution of the crisis," Wen said on the side of the Association of Southeast Asian Nations summit in the Laotian capital of Vientiane.
"Today, we have to ask a question. The US dollar is depreciating and there is no attempts to manage it. What is the reason for this? Shouldn't the relevant parties take measures?," he added
Wen described the revaluation of yuan as a major economic issue that should not be carried out under pressure, pointing that change in the exchange rate required certain conditions.
"The most important is to have a stable macroeconomic environment, a healthy and complete market mechanism and a healthy financial system," he said.
