Chinese fin min on the wires from the US-Chino love fest

  • sees US as key to world economic recovery
  • China may add less to global growth that post-crisis
  • hopes US makes improvement in economic rebalancing
  • hopes US limits spillovers from monetary policy
  • China economy is stable, structural reforms showing effects
  • Chinese growth target is about 7.5%
  • employment and prices also important targets
  • services outweighed industrial production

Am I going soft in my old age or does this sound a little more candid/honest than usual comments out of China ?

Add:

  • anti corruption efforts help growth in the long run
  • US QE tapering creates challenges for China in managing hot money
  • US and China agree orderly QE tapering is a good thing
  • US has asked China to withdraw FX intervention
  • China can’t cut FX intervention when recovery not solid or when money flows unstable