OECD chief says dollar fall is no shock

OECD Secretary General Donald Johnston said on Monday 2 May there was no reason to be shocked by the fall of the dollar against the euro and that developed countries had failed to prepare for a surge in Chinese textile exports.

"The euro is very strong, of course, against the dollar. But people have been saying for years that the dollar had to decline," Johnston said on LCI television.

"So ... no one should be shocked. It is interesting to note that in Germany, where growth is weak ... exports are

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