An appreciation of 20 percent in China's currency would cause widespread bankruptcies in China's export sector, where firms operate on thin margins, Chinese Premier Wen Jiabao said on Wednesday.
"We cannot imagine how many Chinese factories will go bankrupt, how many Chinese workers will lose their jobs and how many migrant workers will return to the countryside" should China acquiesce to demands for a 20- to 40-per-cent gain, Mr Wen said in New York on Wednesday evening.
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