China’s Commerce Minister Chen Deming said that a stable renminbi is in the interests of global trade and the world economy, Reuters reported, citing a weekend interview with Chen on BBC News. "I don’t think for the next period of time we’re going to see a remarkable change in the value of the yuan. I think it will maintain a stable value," he said. He added that a stable yuan is conducive to the stability of international trade and the global economy. He also rejected suggestions of a shift in the US government’s position on whether China is manipulating its exchange rate. Chen, who is on a trade mission to Europe, said that he expected moderate growth for the Chinese economy in 2009.
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