Sunday, April 19, 2009

China says key currency countries need watching

Wen Jiabao (温家宝), Chinese Premier

Image via Wikipedia

By Kirby Chien and Eadie Chen Sat Apr 18

Chinese Premier Wen Jiabao said on Saturday that the economic polices of countries which issue global reserve currencies require closer supervision as part of building a diversified international monetary system.

Wen and central bank governor Zhou Xiaochuan also cautioned against jumping to the conclusion that China is already on the path to economic recovery, after data issued on Thursday showed signs of an upturn in momentum.

Wen's currency comments, an apparent reference to U.S. economic management that Beijing has blamed in part for the global financial crisis, were twinned with a pledge to promote more international use of the Chinese yuan.

China says key currency countries need watching

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