Brazil and India add to pressure on China

In my research I have found this article that indicates that China is facing growing pressure from other developing countries to begin appreciating its currency, providing unexpected allies for the US in the diplomatic tussle over Beijing’s exchange rate policy.
The most forceful statements about case for a stronger Chinese currency it is said comes from the Indian and Brazilian central bank presidents.
The strongest public pressure comes from the US, but still a number of developing economies say that China's dollar peg has imposed costs on their economies.
The head of the Brazilian central bank thinks that a stronger Chinese currency was “absolutely critical for the equilibrium of the world economy”. He said there were “some distortions in world markets, one of them is a lack of growth and another is China”.
The governor of the Reserve Bank of India said that an undervalued renminbi was creating problems for countries, including India.
The prime minister of Singapore, added his country’s voice to the debate last week, saying it was “in China’s own interests” with the financial crisis over to have a more flexible exchange rate.
Some in China have fended off US pressure for a stronger currency, describing it as a distraction from the real causes of the financial crisis. However, criticism from developing countries is not so easy to bat away. “If the rich and emerging economies are united in asking China to revalue, it would be harder to dismiss the request as an example of superpower arrogance,” said Sebastian Mallaby at the Council on Foreign Relations.
The impact of China’s currency policy on other developing countries is not clear-cut, however. Although a number have seen their currencies appreciate sharply over the past year, putting pressure on their exports and exposing them to fiercer competition from China, the economic recovery in China has also provided a boost, especially for its neighbours in Asia as well as commodity-producing countries such as Brazil.

http://www.ft.com/cms/s/0/1d692fd2-4d1c-11df-baf3-00144feab49a.html