Straight monetarist talk these days is considered controversial in certain circles; and you would not expect to hear it coming from the mouth of the governor of the central bank of China, with all the country's communist traditions. But the "moderniser" at the People's Bank of China, governor Zhou Xiaochuan, showed that he means business when he recently remarked that, "Instability in the value of the currency, inflation, especially serious inflation, will significantly erode the interests of