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China “fully prepared” for currency war: banker

Posted By admin On March 3, 2013 @ 7:37 am In World News | Comments Disabled

AFP [1]
March 3, 2013

A top Chinese banker said Beijing is “fully prepared” for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.

Yi Gang, deputy governor of China’s central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow.

Those fears have largely been fuelled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals.

Yi said a currency war could be avoided if major countries observed the G20 consensus that monetary policy should primarily serve as a tool for domestic economy, the Xinhua report said.

Full article here [1]

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URLs in this post:

[1] AFP: http://www.france24.com/en/20130302-china-fully-prepared-currency-war-banker-0

[2] China and Japan to begin direct currency trading: http://www.prisonplanet.com/china-and-japan-to-begin-direct-currency-trading.html

[3] China slams US currency manipulation claims: http://www.prisonplanet.com/china-slams-us-currency-manipulation-claims.html

[4] China Invented Every Single Major Form of Currency – Metal Coins, Paper Money and Fiat Currency – And Seized Gold Six Centuries Before FDR: http://www.prisonplanet.com/china-invented-every-single.html

[5] Does China Plan To Back The Yuan With Gold And Make It The Primary Global Reserve Currency?: http://www.prisonplanet.com/does-china-plan-to-back-the-yuan-with-gold-and-make-it-the-primary-global-reserve-currency.html

[6] The Truth Behind China’s Currency Peg: http://www.prisonplanet.com/the-truth-behind-chinas-currency-peg.html

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