Zhou on four key decisions that forged the modern-day PBoC
Zhou Xiaochuan shares his insights on central bank leadership in China’s economic reform
During the Asian financial crisis, when you were administrator of the State Administration of Foreign Exchange, a decision was taken not to devalue the renminbi. Can you explain who argued for maintaining the peg and the rationale for this – it appears you informed SAFE officials about the decision about a month before premier Zhu Rongji made the formal announcement?
During the Asian financial crisis, the primary goal of China’s economic leaders, including the People’s Bank of China (PBoC) and
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