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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: TH who wrote (12727)	10/4/2004 12:58:44 AM
From: mishedlo	Read Replies (1) of 116555

G7 MEETING Japan´s Tanigaki says China must decide pace of yuan reforms [This is interesting. The opposite tack (or should I say tactless) strategy of Snow. Is Japan trying to warm up relations with China? mish] ========================================================================== Saturday, October 2, 2004 3:09:44 AM G7 MEETING Japan's Tanigaki says China must decide pace of yuan reforms WASHINGTON (AFX) - Only China can decide how fast it should convert the yuan to a more flexible, market-based exchange rate, Japanese Finance Minister Sadakazu Tanigaki said. Tanigaki was speaking after a G7 finance ministers and central bank governors meeting which China attended He said there was no discussion about offering a permanent membership in the G7 to China, saying the question must first be whether China wants to join. Bank of Japan governor Toshihiko Fukui said China has many other "inflexibilities" besides its currency, chiefly its investment capital markets, which must also be reformed as China's economy advances.

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