Asia Risk Congress: China urged to drop currency peg

Chinese currency

China's leading role among Asia-Pacific economies means it must end the renminbi peg to the US dollar by the second quarter of 2010 to avoid harm to other countries' export trade, according to Rodney Jones, principal of Wigram Capital.

Speaking today at the Asia Risk Congress, Jones, who runs an advisory firm providing macro-economic analysis and advice on Asia, Australia and New Zealand, told delegates Asia needs more foreign exchange flexibility in the long term, but warned there is uncertaint