IMF's Rajan says China should not wait on yuan

IMF chief economist Raghuram Rajan said in an interview that a move towards more flexible exchange rates by China would benefit both the Chinese and global economies. Rajan, a former University of Chicago academic, said two options existed. To move and refix, or widen the yuans band so the market can determine the value.

Source: Reuters

The longer China takes to revalue its yuan currency, the bigger the stress on its economy and banking system, the International Monetary Fund's new chief econom