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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (12595)	9/30/2004 8:49:52 PM
From: mishedlo	Respond to of 116555

IMF´s Rato says good time for China to move towards currency flexibility Thursday, September 30, 2004 11:57:15 PM afxpress.com IMF's Rato says good time for China to move towards currency flexibility WASHINGTON (AFX) - IMF Managing Director Rodrigo Rato said China should take advantage of its current high economic growth to move towards a more flexible exchange rate regime "We think there is room (to) maneuver to start moving ... toward a more flexible exchange rate," Rato told a press briefing here ahead of the annual meeting of the IMF and its sister institution, the World Bank "We think that precisely because it's a moment of strong growth in the Chinese economy that this is a very good moment to do it." But he stressed that the government need not relinquish its authority to cope with macroeconomic disruptions "It doesn't mean it should abandon its capacities to defend itself in the capital account," he said "It would mean that with a more flexible system it would be able to be more stable so as to absorb external shocks."