China's Trade Chief Denies Currency Manipulation Claim

Law360, New York (November 30, 2009, 3:59 PM EST) -- China's trade minister on Monday rejected accusations of currency manipulation, telling journalists at the World Trade Organization's ministerial conference in Geneva that another major world economy — presumably the United States — was devaluing its own currency.

Chen Deming, China's trade minister, told the Associated Press that criticism of China was unfair, given the renminbi's role in the recovery of the global economy. He noted that the renminbi has risen 20 percent against the value of the dollar since 2005, according to the news agency....
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