Trichet in China?

Doesn’t have the same ring as Nixon in China, but the Wall Street Journal reports that Trichet, Almunia and Juncker are being urged by the EU to reprise a November 2007 trip to China to appeal to the government to weaken the Yuan. Stop on the way and pick up Bernanke and Geithner, will ya?

While China has squawked about losing money on their forex reserves, they have been benefiting from the weak CNY which they have kept steady versus the dollar for well over a year after a period of controlled appreciation from 2005 until the poo hit the fan in July 2008.