Where the IMF dare not tread

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.

2 thoughts on “Where the IMF dare not tread

  1. Emmanuel

    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.

  2. Jonathan

    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.

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