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China expresses currency fears

Posted on 11 March 2013

Chinese commerce minister Chen Deming expressed concern Friday about loose central bank policies pushing down the value of major currencies, as the Japanese yen extended its recent falls. Chen told reporters he was “very concerned” this year with “the competitive depreciation of currencies in the world and the negative impact on the global economy led by the excess issuance of money”.
He said that declines in the value of the yen, the US dollar and the euro would have a big impact on developing countries, including China. Chen added that monetary easing policies by central banks in the United States, Japan and the European Union to stimulate their economies “should not spread out to affect other countries”………………………………………..Full Article: Source


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