President Nicolas Sarkozy of France is to push for a more assertive European Union exchange-rate policy towards China this autumn to try to shore up ailing exporters hit by the strong euro. French officials said they intended to raise concerns about the Chinese currency with Jean-Claude Trichet, the bank’s president, at a meeting of eurozone finance ministers before an E.U.-China summit in November. “It makes sense to discuss the issue in this forum because Mr. Trichet will be there,” one official said. But Trichet has so far responded with icy disdain to any French attempts to influence the bank’s policy and there are concerns elsewhere in Europe about Sarkozy’s ratcheting up the rhetoric towards Beijing. (Financial Times)
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