Cameron urges China to correct trade imbalance

PEKING, CHINA - UK Prime Minister David Cameron has stepped into the row over "currency wars" with a warning that China should act to correct its trade imbalance.

In a speech at Peking University, he said that China's export success was a potential threat to other economies.China's huge trade surplus is in part attributed to the weakness of the yuan, which helps the country's exporters.

But ahead of the G20 summit, China's President Hu Jintao said countries must "face their own problems". Latest figures show that China's trade surplus rose to $27bn (£17bn) in October, despite rapid economic growth in the country starting to cool.Critics blame Beijing for keeping the yuan artificially low, which helps boost exports and has led to China building up massive amounts of foreign reserves. Cameron, who is leading a trade mission to the country, said he wanted "to make the positive case for the world to see China's rise as an opportunity, not a threat".

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