In a gathering of monetary officials and senior commercial bankers, Chinese central bank chief Zhou Xiaochuan warned that the growing pressure on China to revalue its currency, and unrealistic expectations on how the move may help correct imbalances in the world economy, are making it more difficult for China to take action. Zhou said an appreciation of the yuan could slow growth and affect domestic jobs, adding that while China will move to reform its currency regime, China's banks need more time to prepare. US Federal Reserve Chairman Alan Greenspan said he is confident Beijing would make a move "reasonably soon" since it was in China's own best interests.
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