EU trio to lobby for China currency action

Article reports that Jean-Claude Juncker, Luxembourg’s Prime Minister, who chairs meetings of eurozone finance ministers, Jean-Claude Trichet, the European Central Bank President, and Joaquín Almunia, the EU’s Economic Affairs Commissioner will be visiting China in November 2009 to step up efforts to persuade China to allow its currency to appreciate.

This comes amid rising fears that the eurozone is bearing the brunt of a global economic adjustment through a stronger euro.

However, EU frustration at China’s exchange rate policies is matched by what Beijing sees as a new trend of EU protectionism, directed at Chinese capital- and technology-intensive industries.