Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

China says in no rush to reform forex regime

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Latest Breaking News Donate to DU
 
54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-29-05 03:46 PM
Original message
China says in no rush to reform forex regime
Looks like they are still trying to shake loose the speculators.

http://www.reuters.com/newsArticle.jhtml?type=businessN...

DAVOS, Switzerland (Reuters) - China told the world on Saturday it will not rush to reform its pegged exchange rate regime, dashing hopes for a breakthrough on currency issues at next week's Group of Seven finance ministers' meeting.

Senior officials attending the World Economic Forum said currency reform steps would come eventually but the world would have to wait for China to take them at its own, gradual pace.

snip>

"The world economic imbalance is attributable to many reasons, but not the exchange rate," Li Ruogu, China's deputy central bank governor, told the World Economic Forum. "China has not the capacity to address that so-called imbalance. We are not willing to do it, and we are not able to do it."

snip>

"There's a tremendous task to make people have jobs, therefore a certain growth rate is extremely important. Our goal is to keep the economy growing at roughly 8 percent," Li added.

more...
Printer Friendly | Permalink |  | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC