Zhong Shan: Exchange rate-key to trade unbalance

Deputy commercial minister Zhong Shan said 26 it sees general balance for China-America bilateral trade benefits, and renminbi rate is pointless in dealing with trade balancing between <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />China and America. Both yuan and the dollar, if remained steady would benefit the whole world.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Zhong Shan indicated the two sides have been benefited substantially from China-America trade cooperation. China has been in consistent stand improving trade balance, but it is useless to curb China’s export to America, the opposite may done by America the export to China. He then expected America to discard cold-war mentality and relaxed export control on China.

He called for the matching of the interests concerning both sides, advocating multilateral trade relations based on investment facilities, instead of politicized trade and economy.