Futures Market News
Chinese central bank governor sends message to U.S. counterpart
Apr 03, 2012 10:08 AM
The U.S. must act responsibly and with regard for other nations when implementing its policies for monetary easing, the top official of the central bank of China said on Tuesday during a panel discussion, according to published reports.
Speaking in the southern Chinese island of Hainan, governor Zhou Xiaochuan with the People's Bank of China said the U.S. ought to act responsibly and keep in mind the effects on the global economy when it executes steps to spur its domestic economy, Bloomberg reports.
"We agree very much that to overcome a very serious financial crisis, the U.S. needs to inject liquidity," the governor said, according to The Wall Street Journal, noting the step is necessary. "Inevitably, some emerging economies will suffer too much capital inflow."
The commentary is notable in that China hosts the globe's second-largest economy and the world's most rapidly developing economy while the U.S. hosts the globe's biggest system. However, in recent months, economic data has indicated China's development and growth has hit snags while the U.S.' economic future appears to be brightening.
The governor said the U.S. should act with regard to other nations as some emerging economies have endured increased risks of inflation due to the large amount of U.S. dollars to enter their economies.
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