PBoC’s Pan links China’s surplus to flaws in monetary order
Global imbalance result of one currency dominating international system, governor says
The global trade imbalance is a result of inherent features of the international monetary system rather than choices by individual countries, the governor of the People’s Bank of China has said.
Speaking at the annual China Development Forum in Beijing on March 22, Pan Gongsheng argued that his country’s trade surplus should not simply be viewed as a consequence of the global trade order.
Pan said that over the past 40 years the world’s surplus countries had generally been those with strong
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