Zhou Xiaochuan, China's central bank chief, has said that China
supports a strong US dollar, putting weight behind the slumping
currency.
The governor of the People's Bank of China, who has just
attended a two-day G20 meeting focusing on global financial
stability held in South Africa's Cape Town, said Wednesday that US
Treasury Secretary Henry Paulson predicted a long-term recovery of
the sliding dollar during the meeting, and asked about the Chinese
side's opinion.
Zhou said he told Paulson China hopes to see a strong
dollar.
He said the slight depreciation of the dollar does not mean the
currency is weak. Only when it devalues drastically can it be
called weak, the scenario of which is likely to bring uncertainty
to the world economy, to the reluctance of all parties
concerned.
The greenback has experienced continuous depreciation recently.
Driven by bleak picture of the housing sector, its value declined
to record low against that of the euro on Tuesday.
(Xinhua News Agency November 22, 2007)
