CHINA: China needs to increase the flexibility of the yuan exchange rate
and make more efforts to rebalance its economy, U.S. Ambassador to China
Jon Huntsman said to students at China’s elite Tsinghua University in
what the embassy here pitched as a “major” speech on the bilateral
relationship. He acknowledged that the U.S. also needs to make more
progress on its economic rebalancing, including higher savings, lower
consumption and increased exports.