
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 an
More on Reserves
Latest issue
Most read
- A route to economic growth – The Belt and Road Initiative 2018 survey
- Policymakers should act now to prevent next crisis – IMF panellists
- China’s macroeconomy in the ‘new era’ of politics and power
- The Bank of Italy’s approach to risk-based budgeting
- Fintech in the ‘new era’ – Sustainable and sound development
Back to Top