Blaming Chinese currency for global imbalance not right
发布:2012-10-16
编辑:2012-10-16
It was wrong to blame the foreign exchange rate of the renminbi (RMB), <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />China's currency, for the global economic imbala
It was wrong to blame the foreign exchange rate of the renminbi (RMB), <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />China's currency, for the global economic imbalance, Chinese commerce ministry spokesman Yao Jian said here on Feb 25.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
"RMB foreign exchange rate is neither the root of trade imbalance between China and the United States, nor the main cause of the world economic imbalance," Yao told a press conference.
Such an accusation lacked basic judgement, he added.
Yao stressed that maintaining a stable foreign exchange rate of RMB might be a support to stabilize the global financial market.
