Kuroda Advises China to Impose Capital Controls to Defend Yuan
- Davos delegates predict China will avoid hard landing
- Lagarde says massive use of reserves not a good idea
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Bank of Japan Governor Haruhiko Kuroda said China should impose capital controls to defend the yuan rather than keep burning through currency reserves.
As he and other international policy makers expressed confidence that the world’s second largest economy will avoid a hard landing, Kuroda made his proposal on the final day of the World Economic Forum’s annual meeting in Davos, Switzerland.