Chinese Finance Minister Ask the US Participate Responsibility , USD / CNY fall dramatically

Now is not the right time for the US to raise interest rates, given the global economic situation is uncertain, according to a statement disclosed by the Minister of Finance of China, Lou Jiwei , in an interview published in China Business News on Monday ( 12/10 ).

Jiwei statement was similar to that expressed in the annual meetings of the IMF and the World Bank in Lima last week. Developed countries, said Jiwei, busy blaming global economy is chaotic due to economic slowdown in China that can not meet the demand , whereas in fact the US is also partly responsible for this.

"The United States are in a point which is not appropriate to raise interest rates, and ( they ) are still responsible for the global economy ( that ) can not raise interest rates," said Jiwei was quoted by Reuter.

Not One Developing Countries

State minister world 's second-largest economy is trying to shift the view that generally marginalize China, saying that the US should join assume global responsibility for global currency status carried by the US Dollar.

This Jiwei statement described as the Vice Chairman of the Fed, Stanley Fischer, said the rise in US interest rates this year is just a prediction, not a commitment that must be met. And answer questions about the global economic situation, Lou said that sits not on the problems of developing countries.

"Instead of it (blame the developing countries), it is precisely the weakness of the sustainability of the recovery of the countries marched that hinder the global economy," he said. Developed countries should accelerate the recovery that involved growing external demand, continued Lou.

Yuan Rebound

Apart from the Chinese finance minister 's speech this afternoon Yuan reportedly showed rapid progress against the US dollar due to the PBoC to raise the reference exchange rate of the Renminbi against the US Dollar . Speculation US interest rate hike postponement to be the reason for the Chinese central bank to take this policy. USD / CNY drop from 6.3455 into 6.3235 .