Economics
U.S., China Have Reached Consensus on Many Vital Issues, Yi Says
- Negotiators have reached consensus on many crucial issues
- Reserve-ratio tool to evolve to 3-bracket system, Yi says
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China and the U.S. have reached consensus on many “crucial” issues and and have discussed the need to observe the “autonomy” of each other’s monetary policy, People’s Bank of China Governor Yi Gang said.
“The two sides discussed issues surrounding the yuan including the need to abide by previous commitments made by Group of 20 nations not to engage in competitive depreciation and to communicate closely on currency issues,” Yi said during a press conference in Beijing Sunday during the annual National People’s Congress. He didn’t say on which issues they had reached consensus.