China is said to turn back on currency war

03/13/2013 | Caijing Magazine online

The value of China's yuan will continue to fluctuate both up and down as the country refrains from engaging in any kind of currency war despite the actions of some trading partners, said former central bank Deputy Governor Wu Xiaoling. "Printing more money and devaluating the currency could be useful to promote economic growth over a certain period. But if a country doesn't have a sound economic structure or strong growth momentum, it would be poisonous to depend on a looser monetary stance," Wu said.

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