Barack Obama pledges to tackle Beijing on yuan

Telegraph
"Concerns are that Beijing artificially hold backs the value of the yuan to cheapen the cost of its exports, therefore making Western goods more expensive.But Mr Obama will have to tread carefully as the Chinese government owns almost $800bn (£477bn) of US Treasuries, its largest foreign creditor.Earlier in the day, the Chinese premier, Wen Jiabao, urged the US to "effectively discharge its responsibilities" and "maintain an appropriate size" to its budget deficit."