China, the G20, and the currency issue

Resumo

China and Brazil are starting to decouple from the US economy and open up a new cycle of trade and investment between them. Angelica Wiederhecker talks to Li Daokui, one of the most influential economists in China. He is pleased that the G20 debate has shifted from “the surface issue” of nominal exchange rates to the “fundamental issue which is real rebalancing.” He is also one of the Chinese academics and officials who have been calling for some time for the currency to be allowed to appreciate more rapidly.