Obama warns China 'enough is enough'

14 November 2011

Patience among other countries around the world regarding China's stubborn currency policies is wearing thin, Barack Obama has warned.

Speaking following a summit with leaders from the Asia-Pacific region in Hawaii, Mr Obama indicated that the time has now come for the Asian superpower to act fairly in terms of its valuation of the yuan.

The US - along with the majority of other major economies globally - believes China is purposefully preventing its currency from appreciating in value truthfully in order to give it an edge in the worldwide trading arena.

And the president - who came to office in 2008 - stated that while there has been a "slight improvement" in the recent past, China remains too reluctant to act as its economic power continues to grow rapidly.

"Changes are difficult for them politically, I get it ... but the US and other countries, I think understandably, feel that enough's enough," he noted.

By Claire Archer

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