Apparently the Chinese will not be offended by the IMF’s managing director telling the world’s most prestigious newspaper that the renminbi “needs to move,” but they would be rather upset by a formal labelling of their currency as “fundamentally misaligned.” So much so that the IMF’s executive board has not discussed the Chinese economy since 2006, contrary to its obligation to review member economies.
-
Follow
Following
Already have a WordPress.com account? Log in now.
Trade Diversion 
JD, since when did the FT become the world’s most prestigious newspaper? I would think it’s a toss-up between the NYT and the Times of London. Not everyone is into financial journalism, methinks.
Emmanuel,
Fair enough. The label just reflects my opinion of the NYT and Times. I suspect central bankers care more about the FT than NYT, but you may be right that politicians may feel otherwise.