Nobel Laureate urges keeping yuan stable.

(From Business Daily Update)

Author: y Nobel Price Laureate Robert A Mundell, also known as the father of the Euro, reaffirmed Monday his position that China should maintain its currency exchange policy despite pressure from Western countries. Maintaining China's currency stable is important not only to China, but also to other parts of the world, Professor Mundell told the Nobel Laureates Beijing Forum 2005. The three-day forum, which concludes Wednesday, drew the participation of Edward Prescott, John F Nash, Robert W Fogel, James A Mirrlees, Vermon L Smith and Clive W J Granger, and other noted overseas economists. A possible move to appreciate or float the Chinese …