Roche VS. Chen: Conversation on China-US trade and value of RMB

Regarding China-US trade, and the hotly discussed value of the renminbi, Stephen Roach, Chairman of Morgan Stanley Asia, has raised his concerns with Chinese Commerce Minister Chen Deming.

Chen Deming, Chinese Commerce Minister, said, "This is a very important issue. The Chinese government is very concerned about what decision the US Treasury will make on April 15th. As Premier Wen Jiabao said earlier, the renminbi is not undervalued. But whether the US Treasury will give an untrue reply for its own needs, we will wait and see. If such an answer is followed by trade sanctions, I think we will not simply do nothing. We will also respond if this means litigation under the global legal framework."