IMF chief again says Chinese yuan should rise | The Daily Star
11:00 PM, November 16, 2009 / LAST MODIFIED: 11:00 PM, November 16, 2009

International Business News

IMF chief again says Chinese yuan should rise

International Monetary Fund chief Dominique Strauss-Kahn on Monday reiterated that a stronger yuan would help bolster China's economy, amid mounting pressure on Beijing to let the currency rise.
In a speech to a finance forum focused on the need to rebalance the world economy, Strauss-Kahn highlighted China's efforts to boost private consumption, and said a stronger currency was "part of the package of necessary reforms".
"Allowing the renminbi and other Asian currencies to rise would help increase the purchasing power of households, raise the labor share of income, and provide the right incentives to reorient investment," he said.
"Higher Chinese domestic demand, along with higher US saving, will help rebalance world demand and assure a healthier global economy for us all," the IMF managing director said, according to a copy of his speech sent to AFP.

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