Chinese officials critical of BoJ move

Japan accused by senior Chinese banker of using quantitative easing to avoid dealing with the true sources of deflation.
Haruhiko Kuroda
Haruhiko Kuroda

Most of the world is applauding the Bank of Japan’s dramatic announcement last week to double its balance sheet by the end of 2014 to pull itself out of its deflationary malaise. But that would not include most Chinese.

At this week’s Boao Forum for Asia, a Chinese government-backed conference of world government and business figures, Li Ruogu, chairman and president of The Export-Import Bank of China, and a former senior official at the People’s Bank of China, said the efficacy of quantitative easing QE is in doubt.

Japan’s intervention may just be cover for a “currency war”, Li warned, with the main intent to depreciate the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222