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US Treasury Secretary Urges Flexible Currency Regimes in Asia.
Byline: Parista Yuthamanop
Sep. 5--Asian countries should move toward a market-based, flexible currency regime to further boost their economies and eliminate potential imbalances, says US Treasury Secretary John Snow.
Mr Snow, speaking on the sidelines of the Apec finance ministers' meeting, said countries needed to build up the strength of their domestic economies, adding that one "can't devalue your way to prosperity".
Currency issues have taken centre stage at the Apec meetings, as the United States has stepped up international pressure on the Chinese government to loosen the peg on the Chinese yuan, fixed at 8.28 to the US dollar since ...
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