Reform the International Monetary System

Sunday, March 29th, 2009

This is the title of a speech by Zhou Xiaochuan, Chairman, Monetary Policy Committee of the People’s Bank of China.
PortConsult clients have for quite a while known that a big discussion about currencies is going on in high places. It is in the open now, Zhou Xiaochuan has according to the website of the Bank of China made a speech on March 23rd in which he outlines the Chinese views. Somehow it seems to us at PortConsult that it does not bode well for the profligate ways of the developed world in general and the US in particular. A comment by Dr.Okresek will follow tomorrow. We welcome your visiting the PortConsult website.