American business is keen for President Obama to make Premier Wen aware of US displeasure about the Yuan’s artificially low level.

US business has felt for some time that China is not playing fair in the currency game. They argue (and it’s hard to disagree with them) that the Yuan should have a higher value. Many in American corporate life now want Obama to demand that the Chinese currency be unpegged from the Dollar.

The Yuan rose over 20% against the Buck between 2005 and 2008, before Beijing capped its rise to protect exports. Paul Krugman, a Nobel-prize winning economist at Princeton University in New Jersey, said last week that global economic growth would be about 1.5 percentage points higher if China stopped restraining its currency’s value.

But Wen Jiabao has not greeted the news of US disquiet that well.

“We oppose countries pointing fingers at each other and even forcing a country to appreciate its currency,” Premier Wen said, pointing his finger.