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Will pursue currency reform, says Hu

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Fiery protest: Anti-globalisation activists clash with police in Seoul on Thursday. — PHOTO: AFP
Fiery protest: Anti-globalisation activists clash with police in Seoul on Thursday. — PHOTO: AFP

Chinese President Hu Jintao told his U.S. counterpart Barack Obama Thursday that Beijing had an “unswerving” resolve to pursue currency reform, but needs a sound world economy to do it, said an official.

“President Hu also stressed that China's resolve to push forward foreign exchange reform is unswerving,” said Foreign Ministry spokesman Ma Zhaoxu after Mr. Hu and Mr. Obama met just prior to the start of a G20 summit in Seoul.

“The reform will need a very sound external environment and can only be implemented in an incremental process,” Mr. Ma told reporters, throwing the onus on the United States to avoid any instability in the world economy. — AFP


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