Photo from the CCBC
“Uncontrolled printing of [U.S.] dollars and rising international prices for commodities are causing an imported inflationary ‘shock’ for China and are a key factor behind increasing uncertainty”
—Chen Deming, China Trade Minister
After coming under pressure at the most recent G20 meeting over China’s restraint of its own currency, Chen Deming took time to argue at a trade fair in Guangzhou that the “real” problem was the United States’ over-printing of dollars. China’s inflation rate accelerated to the fastest pace in almost two years this September, reaching 3.6%. Policy makers responded by raising interest rates, hoping to cool down gains in consumer and property prices.