|LAGARDE'S REAL THOUGHTS ...|
WHAT CHOICE DID SHE HAVE?
MADE IN CHINA IS LIKE MADE IN JAPAN AFTER WWII ... PERHAPS WITH A HIGHER QUALITY IN SOME FACTORIES ... AND THE DEVELOPMENT OF A MIDDLE CLASS IS PUTTING SOME PRESSURE ON THE SOCIAL STRUCTURE OF CHINA MORE SO THAN THAT OF JAPAN.
“The renminbi’s inclusion reflects the progress made in reforming China’s monetary, foreign exchange, and financial systems, and acknowledges the advances made in liberalizing and improving the infrastructure of its financial markets,” Lagarde said in a statement on Friday in Washington.
“The continuation and deepening of these efforts, with appropriate safeguards, will bring about a more robust international monetary and financial system, which in turn will support the growth and stability of China and the global economy.”