Zhou parries calls for imbalances adjustment

Zhou Xiaochuan, the governor of the People's Bank of China, said that the central bank would not allow for a faster appreciation of the renminbi to reduce global imbalances.

Zhou said on Wednesday: "We have to learn to live with imbalances, and even if imbalances do occur, that's not a big deal." He added that correcting too sharply for imbalances could lead to "overshooting."

Zhou added: "China and the US are complementary as China has an excessively high trade surplus, a high savings rate and

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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