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Finance chiefs to skip Tokyo meetings (3)

(China Daily)

08:11, October 11, 2012

Tens of thousands of Chinese tourists have canceled trips to Japan.

China is Japan's chief trading partner, and economists warn that the dispute could stymie Japan's economic growth.

Concerns have arisen that the absence of top Chinese financial officials will steal some of the conference's thunder this year and dim the world's prospects for economic recovery. Some have also said it will harm China's reputation at a time that the country is trying to have more of a say in global economic matters.

"China is a responsible country," Xu said. "Our economic cooperation with surrounding countries, which is beneficial to the world economy, will not be interrupted."

"Meanwhile, the need for China to have more votes in the IMF shouldn't be questioned either. It is already a settled matter."

Xu said the country has set 2015 as the year that it wants to have the yuan added to the IMF's Special Drawing Rights, which is an international reserve asset used to supplement the official reserves of the organization's member economies. Its value is currently set in accordance with a basket of four important international currencies that can be exchanged for freely usable currencies.

Li Daokui, a renowned professor of economics at Tsinghua University and a former adviser to the central bank, who will be in Tokyo for the IMF meetings, said the conference in the past has been a stage on which China can proclaim its ideas.

"I am not here to flatter Japan," said Li, who was scheduled to attend a debate about the role of Asia in a changing world.

"I have no interest in stimulating Japan's domestic demand in Tokyo by shopping here."

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Email|Print|Comments(Editor:厉振羽、张洪宇)

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