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China "fully prepared" for currency war: banker

02 March 2013 - 09H50

AFP - A top Chinese banker said Beijing is "fully prepared" for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation, state media reported on Saturday.

Yi Gang, deputy governor of China's central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow.

Those fears have largely been fuelled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals.

read more http://www.france24.com/en/20130302-china-fully-prepared-cur...

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Truthbearer's picture




Yeah whatever

Chinese have huge municipal debts, not to mention all the party members ripping off their system.

Perhaps with the Japanese they have a point but if the Japanese pulled out all their investment it would certainly put a different spin on things in the short term.

Then the West would really have a choice to make.