"China is a big country ... and its economy is still quite backward in many aspects. The country still has (huge) demand for energy and mineral products imports," Wei said at a conference.
As such, "China should have adequate forex reserves to
- James Bullard on 2% rates, tariffs and Fed leadership
- Turkish central bank raises overnight rates in bid to stop lira’s fall
- Podcast: David Hendry and John Muellbauer on empirical macro
- Policies must change to stop emerging markets crisis, analysts say
- Next financial crisis “will be brewing” in shadow banking – Bullard