Strauss-Kahn reminds China of its responsibilities

November 19th, 2009

In this video Dominique Strauss-Kahn, managing director of the International Monetary Fund, urges China to play a bigger and more active role in reshaping the global economy.

It’s all about the People’s Republic accepting the responsibilities that go hand-in-hand with its bigger role on the world economic stage. Strauss-Kahn, a former French finance minister, says: “When you’re a big shareholder, you have  more responsibility for the future of the company than when you’re just an outsider, and obviously China is no [longer] an outsider in the global economy.”

This echoed calls made by the Neuilly-born Frenchman in his earlier Monetary Authority of Singapore lecture (delivered in Singapore on Friday, November 13th).

In the lecture Strauss-Kahn said that countries such as China, Malaysia, Japan, South Korea, Taiwan, and Singapore must wean themselves off dependence on exports for future economic growth and learn more of the joys of consumerism and domestic demand. As part of this necessary rebalancing, he urged Asian nations to allow their currencies to appreciate in value against the dollar and the euro.

• To read ‘Asia’s unprecedented opportunity’, my blog post published on Qfinance on November 18th, 2009 click here

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Posted by Ian Fraser on Nov 19 2009. Filed under Blog. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry