China's top banker asks U.S. to intervene responsibly

Posted On: April 03, 2012
The leader of the central bank of the nation hosting the globe's second-largest economy asked the nation hosting the largest economy to act with due regard for the global economy when intervening, according to Bloomberg.

Zhou Xiaochuan, governor of the People's Bank of China, said the U.S. ought to consider the consequences of its actions given the U.S. dollar is the world's reserve currency. Emerging nations have been critical of the U.S.' quantitative easing program that the nation employs to spur the laggardly economy. But the program also sees emerging economies take on inflation risks due to the U.S. currency that ends up in their economies.

The U.S. Federal Reserve "may have more responsibility not only to consider the U.S. economy but also the global economy," he said during a panel discussion on a Southern China island.

Ben Bernanke, chair of the U.S. Federal Reserve, said late last month that the institution he leads is considering additional rounds of stimulus.

The top official of the Chinese central bank also noted that the world economy is still within the clench of the global financial crisis, according to The Wall Street Journal.

Category: Industry News


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