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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World China faces currency pressure at global economy meet AFP - 2 hours 45 minutes ago Send IM Story Print China faces currency pressure at global economy meet Slideshow: Full Photo Coverage: Business & Economy WASHINGTON (AFP) - – China should reform controversial currency policies if it wants to take its rightful place at the top-table of economic policy making, IMF chief Dominique Strauss-Kahn said Thursday. On the eve of a key meeting of global economies, Strauss-Kahn said the United States was "right" to link China's bid for more say within the IMF to the unraveling of Beijing's policies that keep the yuan weak to fuel exports. Finance ministers and central bankers from the IMF's 187 member states will gather in Washington on Friday amid US remonstrations that China's currency policies are slowing the global recovery and hurting American jobs. While Strauss-Kahn admitted there was no "formal" link between IMF reform and currency reform, he cautioned Beijing's actions must be in keeping with its growing stature on the world stage. "I think it is right to insist on the fact that the more an emerging country will have a voice and representation in the fund, the more they have a responsibility in the stability of the system." "You can be at the center of the system, or you can be at the border of the system. But if you want to be at the center of the system... it goes with having more responsibility." His comments come amid growing concerns that countries are reverting to "beggar-thy-neighbor" trade policies as the global recovery remains painfully weak. US officials are adamant that the IMF meetings should address the need for "market oriented exchange rates" and a fundamental "rebalancing" of the global economy. China has rebuffed pressure to lift the value of the yuan, fearing it would put Chinese business at risk. The IMF on Wednesday said rich and emerging economies must dramatically change the way they trade with each other or risk throttling the recovery. In its latest economic outlook, the IMF said growth would slow more than previously expected in 2011, as the United States, Europe and Japan continue to struggle and China remains overly dependent on exports. Wading into sensitive political waters, the IMF said China must allow its currency to strengthen to boost domestic demand and reduce its reliance on exports. "To the extent that a stronger Chinese currency eases this process, other surplus countries in the region could follow suit, which would facilitate the needed shift towards domestic sources of growth," the IMF said. US mumblings that Chinese exports unfairly benefit from an artificially weak yuan have escalated to a din that threatens to dominate the meeting as currency spats also proliferate elsewhere. In recent weeks nearly a dozen governments from Colombia to Japan have admitted to buying up local currency in the hope of driving down its price to make exports cheaper. As part of that rebalancing IMF members are also expected to discuss how to reform decision-making at the fund, giving more say to emerging and developing economies. Europe, seen as a major loser from the reshuffle, has been reluctant to reduce its voting share or representation on the IMF's decision-making board. European finance ministers last week agreed to review representation at the Washington-based international lender, but attached significant conditions. Of the 24 seats on the IMF's board, Europe currently holds nine and said it was willing to rotate two of those spots with emerging markets. 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