G7 makes renewed revaluation calls

Finance ministers and central bank governors from the Group of Seven nations, meeting for the final time this year, resumed their pressure on China to adopt a more flexible exchange rate, AP reported. "We expect that further flexible implementation of China's currency system would improve the functioning and stability of the global economy and the international monetary system," the G-7 said. China allowed the yuan to rise in value by 2.1% in July but it has subsequently risen by only an additional 0.3%, prompting calls from some leaders for a further revaluation.