China Shouldn’t Be ‘Browbeaten’ Over Currency, Blankfein Says
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China’s national interests will converge with the rest of the world as its economy grows, and policy makers there shouldn’t be “browbeaten” for managing their currency in the meantime, Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein said.
“Is China wrong for doing that? No,” Blankfein said today at a panel discussion at the World Economic Forum in Davos, Switzerland. “Are those other countries wrong to object? No. But it’s hard to reconcile.”