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IMF Wades Into Yuan Debate, Warns on Risks of Trade Tensions
The International Monetary Fund linked China’s booming exports and growing trade imbalances in part to a real depreciation of the yuan, adding its voice to a debate over distortions caused by a weaker exchange rate. Following the conclusion of the IMF’s annual review of China’s economy, fund officials said the country’s low inflation relative to price levels among its trading partners has led to a weaker yuan in real terms. They urged Chinese policymakers to adopt bolder stimulus to boost consumption, which would lift consumer prices, while allowing more exchange rate flexibility. “As the second-largest ... (full story)
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