China must avoid competitive FX devaluation: US Treas. Sec. Lew

Speaks to Chinese vice Premier Wang Yang

He adds:

  • China has tools to support domestic demand
  • Expressed support for China joining the Paris Club. The Paris Club is a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.

Glad to have the headlines but nothing new there.

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