China tells U.S. it won't devalue currency.

Reports that on June 26, 1998, during a series of meetings with Chinese officials in Beijing, China, United States (US) Secretary of the Treasury, Robert E. Rubin was assured that China would not devalue the US currency. Focus of the talks; Reference to plans by American President Bill Clinton, who is on a state visit to China, meeting with President Jiang Zemin on June 27, 1998; Details on China's economic crisis, which was caused by a decline in the Japanese yen.