A policy of yuan depreciation would do nothing for China’s economy, offering few benefits for exports and possibly triggering capital outflows, influential economists said yesterday at the Boao Forum for Asia. In response to suggestions that the central bank may weaken the currency to boost exports, the economists warned the move risked a counter-reaction.
They also called for less government intervention in the exchange rate. Long Guoqiang, vice director of the State Council’s Development Research Centre, said there were risks to devaluing the yuan...............................................Full Article: Source
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