Voice from Seoul

Chosun llbo: Chinese PM dismisses claims Beijing keeping currency artificially low 15/03

Chinese Premier Wen Jiabao says he will not be bullied into changing China's exchange rate. The Chinese leader warned the world economy could face a double-dip recession because of high unemployment and unstable currencies.

He did promise to further reform China's exchange rate mechanism -- but gave no indication when this might happen. Instead, he said the value of the yuan -- which is also called renminbi -- will be kept "basically stable".

And he confidently stated the world's fastest growing economy would not be swayed by foreign claims China is giving its exporters an unfair price advantage.

Wen says he does not think the renminbi is undervalued, and says China opposes all countries engaging in what he described as mutual finger-pointing, or taking strong measures to force other nations to appreciate their currencies.

Wen's comments are likely to frustrate China's major trading partners, who have urged Beijing to ease its strict currency policy. They claim the Chinese government keeps the yuan undervalued to give the country's exporters an unfair price advantage and to boost its trade surplus.

Hankyoreh 11/03

A hot debate over changing China's economic development mode and reforming income distribution mechanism has been observed.

After experiencing some 30 years of economic uprising, China has to adapt itself to the tremendous differences occurring in markets and technology by changing its economic growth pattern and optimizing the structure.

Although the Chinese people, who have been benefited from the opening-up and reform policy, are living much bettered lives, the expanding gap between the rich and poor much be contained.

These two tasks as quite difficult but the Chinese government as very determined for without their settlement, the country's economic advancement would not be sustained.