Li Yang says China shouldn't follow US

China should not follow in the footsteps of the United States by starting a cycle of interest rate rises, former central bank adviser Li Yang said in an article published on Monday 7 August.

"Although people having this idea recognise the close relationship between the U.S. and Chinese economies, they are missing a significant difference in the two countries' economic fundamentals," Li wrote.

By keeping a gap between the two nations' rates, China is alleviating pressure for the yuan to apprecia