senior Chinese official has given a cautious endorsement to the radical monetary easing policies in Japan and the US, calling them necessary but not sufficient to trigger economic recoveries.
The comments by Jin Liqun, who chairs the supervisory board at China Investment Corp, the sovereign wealth fund, could help alleviate concern about “currency wars” by showing that influential figures in Beijing understand and, within reason, support the aggressive bond-buying programmes launched by central banks in developed economies.
“Monetary easing might be helpful but the role is very much limited,” Mr Jin said. “It is a necessary but not sufficient condition.”
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