Mundell: Chinese economy not overheated

China's economy was not overheated in a wide sense, said Nobel Prize Laureate Robert Mundell on Sunday 22 May in Urumqi. According to him, a floating exchange rate system is not suitable for China, and giving up the fixed exchange rate system will have a long-term adverse impact on the country.

Mundell, who became honorable professor with the Xinjiang Institute of Finance and Economics Sunday, said the price rise of raw materials is a universal phenomenon, but it does not mean China's economy

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