Sarkozy calls for yuan revaluation

China should revalue its currency in order to promote global stability, said French President Nicholas Sarkozy after a meeting with Chinese President Hu Jintao during his first visit to China, AFP reported. Sarkozy said that revalutation would help correct the trade imbalance between the two countries, which reached US$24 billion in China's favor last year.
He insisted that the "global harmony" that China is striving for can only be achieved through more equitable balance between the world's major currencies. Sarkozy also urged China to do more about environmental conservation and to use its regional presence to help solve the global conflicts surrounding Iran and Myanmar. Sarkozy will give a speech on the environment at Beijing's Tsinghua University on Tuesday.