World Bank Chief: Stronger Chinese Currency 'Appropriate'

Wednesday, 15 Sep 2010 01:11 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

It would be appropriate for China to allow the yuan to appreciate, but a stronger currency would not be a panacea for the country's structural problems, World Bank President Robert Zoellick said on Wednesday.

He said China's main priority is to enact structural changes to spur domestic demand.

But a stronger yuan would send a price signal that would help reinforce a shift away from export-led growth, said Zoellick, who was speaking at a news conference at the end of a week-long visit to mark the 30th anniversary of the start of the Washington lender's partnership with China.

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
You May Also Like
Around the Web

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved