India's LARGEST EVER political poll. Have you participated yet?
  • search

US official China currency moves ''not enough''

By Staff
Subscribe to Oneindia News

WASHINGTON, Apr 20 (Reuters) China's moves toward currency flexibility were ''not nearly enough'' to satisfy US concerns, a White House official said today.

The official added, however, that the Bush administration is hopeful about some progress in the future.

''The Chinese are beginning to use their new system for having a flexible currency,'' said Dennis Wilder, an Asia specialist with the White House National Security Council. ''It's not enough, it's not nearly enough.'' His comments came after Bush met with Chinese President Hu Jintao at the White House and pressed him to take steps to reduce China's huge trade surplus with the United States.

Hu assured Bush he was working to make the Chinese currency more flexible but gave no specifics.

''We're disappointed with how slowly they've moved to use it. But over time we believe they have the ability to use it more,'' Wilder said.

REUTERS SC PM0213

For Breaking News from Oneindia
Get instant news updates throughout the day.

X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more