China says only joint action, not exchange rates alone, can address global imbalances
Chinaโs central bank chief has said exchange-rate adjustments alone cannot resolve global economic imbalances, calling on surplus and deficit economies to share responsibility for addressing them. Speaking at the third G20 finance ministers and central bank governorsโ meeting in Bangkok on Thursday, Pan Gongsheng, governor of the Peopleโs Bank of China (PBOC), called for a โmore comprehensive analytical perspectiveโ on global imbalances. โWe should look beyond the current account to financial...