President IMF Visits China Next Week To Solve International Exchange Rate Problems

Reporters learned yesterday from authoritative sources that the International Monetary Fund (IMF) ( IMF ) CEO Kahn will be next week. visit China And the vice president of the central bank Yi Gang once again discussed the macro Prudential policy. Some analysts believe that the focus of discussions between the two sides may be the "currency war" and the appreciation of the renminbi. Kahn will Mediation Sensitivity between China and America divergence 。

Reporters were informed that the meeting was just the end of the IMF and the 2010 World Bank Conference. Earlier, Yi Gang made clear at the annual meeting 7, that China will further promote the reform of the RMB exchange rate formation mechanism, but the appreciation of the renminbi in the short term will bring great impact to Chinese society. In the most severe period of the international financial crisis, the currencies of many countries have depreciated sharply against the US dollar, while the RMB exchange rate has remained stable. It has played an important role in resisting the international financial crisis. China will maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

Kahn, the leader of the French Socialist Party leader, is closer to the Chinese side. He has repeatedly said that countries should not use exchange rate weapons to make profits for their own country. Kahn also hated the "currency war". He said that although the term "currency war" may be too strong, there is a view that money may be used again as a weapon. History has proved that this is not a solution, or even backfired. The dispute over exchange rates has threatened the cooperation and recovery of the global economy.

Another analysis is that IMF will continue to mediate the sensitive differences between China and the United States. Earlier, the issue of China's increase in IMF share and voting rights was postponed due to differences among Member States. Geithner, the US Treasury Secretary, argued that the issue of expanding China's voting rights in the IMF should be linked to the appreciation of the renminbi. However, it was opposed by the developing countries and failed to win part of the European Union's share of the voting rights. From this point of view, President IMF will visit China next week, or will solve several extremely difficult problems.