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Not they allowed it, america wants it to rise. America doesn't care what will happen to China economy. They claim China is manipulating its currency, but isn't america himself attemping to seek profit for its people by any means, e.g., by starting wars to grab some oil resources? America borrows so much money from other countirs, they are living of others' work, they don't give a sh!t about their creditors' lwell-being,they don't even bother to say "thank you", do they? We are losing money in trade,we are losing the business, will amelica buy our debts? Go dreaming..
True, America profits from a weak Yuan - but the Chinese government is in control and does what they think is good for China, not what they think is good for America. And when the Yuan rises and is finally allowed to float freely, it will certainly be good for China in the long term.
However, I'm worried that Beijing only lets the Yuan appreciate because they want to help Obama - and that the Chinese politicians will stop appreciation or even depreciate the Yuan again after elections in the USA. Time will show...