Firms such as Penguin, which relies on China for up to 70% of its 56m Dorling Kindersley books a year, said it would change its production forecasts if such a rise took place.

"We are assuming there's some risk and will make adjustments," said group production director Liz Allen.

"It would have to change substantially for us to think of switching print to the UK or elsewhere in Europe," she said. A 5% change in value against the dollar may up prices marginally.

China makes books up to 30% cheaper than Europe and the "implications would be small for us".

Robert Frederick, the Bath-based book publisher and stationery firm, said a revaluation would make other Far East countries, such as Vietnam and Cambodia, more competitive, but not the UK for the 70% of work it sources from China.