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China’s yuan is at equilibrium level: People’s Daily

Koh Gui Qing, Reuters
May 4, 2012
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China's yuan is at an equilibrium against the dollar and even high in some respects, the country's main official newspaper said on Friday in remarks that could sow further tension in talks between Beijing and Washington.
 
The People's Daily, the mouthpiece newspaper of the ruling Communist Party, said differences in labor productivity and operating costs in the world's two biggest economies show the yuan, or the renminbi, is reasonably valued versus the dollar.
 
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