Wen Jiabao, China's premier, has said that Beijing will not give in to foreign demands for its currency to strengthen, taking an increasingly defiant tone amid mounting international pressure.
In an interview published by the Xinhua news agency yesterday, Mr Wen said some of the demands for China to appreciate its currency were an effort to contain the country's development.
“We will not yield to any pressure of any form forcing us to appreciate. As I have told my foreign friends: on the one hand, you are asking for the renminbi to appreciate; and on the other hand, you are taking all kinds of protectionist measures.”
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