A Chinese diplomat says the U.S. knows China is not a currency manipulator, saying it's unfair for the nation to suddenly change its stance, according to a report.
The comments were made by a diplomat speaking with reporters on condition of anonymity ahead of a visit to London by Chinese Premier Wen Jiabao, Reuters reported. Last week, U.S. Treasury Secretary Timothy Geither said that President Barack Obama believes China is manipulating its yuan currency.
I don't think it's fair all of a sudden to change the position of the U.S. government, he said in response to a question on Geithner's comment. They have enough evidence to show that China did not, and does not manipulate the renminbi (yuan) exchange rate.