Zhou parries calls for imbalances adjustment

Zhou Xiaochuan, the governor of the People's Bank of China, said that the central bank would not allow for a faster appreciation of the renminbi to reduce global imbalances.

Zhou said on Wednesday: "We have to learn to live with imbalances, and even if imbalances do occur, that's not a big deal." He added that correcting too sharply for imbalances could lead to "overshooting."

Zhou added: "China and the US are complementary as China has an excessively high trade surplus, a high savings rate