The China currency crisis: What every American should know

Why the U.S. wants China to let its currency rise in value, and why Beijing has been reluctant to do it

Why won't the yuan rise in value?
(Image credit: Corbis)

The value of the Chinese yuan crept higher this week, amid hopes that Chinese authorities might finally be preparing to ease control of their currency. The U.S. and other nations have been pressuring China to make the move for the good of the world economy. Why is China so reluctant to let its currency rise, and what does it matter to us? (Watch Obama address China's currency)

What's the problem in a nutshell?

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