China Pushes Back on Yuan Undervaluation Claims as EU Trade Talks Begin

China's central bank rejected claims that the yuan is undervalued as trade talks began with the European Union, where officials have increasingly blamed trade imbalances on the exchange rate. The People's Bank of China argued that exchange-rate adjustments won't resolve structural imbalances in the global economy. The pushback came as Brussels and Beijing opened discussions against a backdrop of persistent friction over trade. European officials have pointed to the exchange rate as a factor in the imbalances, while the PBOC's position is that the issue is structural rather than a matter of currency valuation. Bloomberg's Oliver Crook reports on the exchange. The segment is part of Bloomberg Television's ongoing coverage of global markets and the policy debates shaping trade between major economies.