We want to be sure that the way we address the imbalances maximizes growth. It's a shared responsibility.
More Quotes from Timothy Adams:
We have been very supportive of the reforming of the exchange-rate regime, but implied in that support is taking them at their word that over time they'll achieve greater flexibility and an exchange rate that increasingly reflects underlying supply and demand,Timothy Adams
As a result neither China, nor the global economy, has reaped the benefits of a more flexible exchange rate.
Timothy Adams
China's current account surplus is now a major component of global imbalances, and its continuation risks undermining support for the open trade policies which have contributed so much to China's development. China is now simply too large to rely on export-led growth to pick up the slack when other sources of growth falter.
Timothy Adams
It's more than it was but not enough, and it just goes to show that with these growth rates that they can actually do more.
Timothy Adams
We're going to give them the benefit of the doubt that they will do what they say they are going to do. We would just urge them to undertake a quicker pace of reform.
Timothy Adams
What we tried to do is take a quantum leap in sophistication and scope. It gives you a picture of the truly complex nature of what we are trying to do.
Timothy Adams
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