Tags: World | Bank | Chief | Stronger | Chinese Currency | Appropriate

World Bank Chief: Stronger Chinese Currency 'Appropriate'

Wednesday, 15 Sep 2010 01:11 PM

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.

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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...
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2010-11-15
 

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