Yuan revaluation could be harmful: state media

Precipitous reevaluation of the yuan urged by the US and other governments could have negative effects on China and on international currency, the People's Daily warned on Wednesday in its overseas edition. It said hasty revaluation could lead to domestic deflation, affect the consumer price index and cause several rounds of international currency adjustments. The commentary underscored similar remarks by Premier Wen Jiabao that China would not rush into revaluation.