Zhou Xiaochuan's theory of Chinese and Western medicine countering exchange rate

Zhou Xiaochuan, governor of the People's Bank of China, has been a mirror of the renminbi's exchange rate, global economic balance and U.S. Treasury bills.　　In Sunday, he used the "Battle of Chinese and western medicine" in Washington to compare the current exchange rate debate.　　Mr Zhou pointed out that Western medicine was quick but "too fierce" and the Chinese Medicine "progressive" was also stable and effective.　　His series of witty remarks drew foreign media attention to the "family" of China's monetary policy.　　Exchange rate issues China is not polite. There have been media reports that the International Monetary Fund's annual meeting for China is quite a bit hongmenyan taste, the United States in tandem with Europe, Japan, to play a "renminbi Exchange card" to exert pressure on China's monetary policy.　　Foreign media generally believe that Mr Zhou has given strong resistance to the pressure on China.　　The Financial Times quoted Mr. Zhou at the IMF meeting as saying that the focus on the renminbi's exchange rate is one-sided.　　The New York Times said that Mr Zhou was actually criticizing America's massive public debt and the Fed's loose monetary policy as a result of the global economic imbalances.　　Citing experts ' comments, the Financial Times cited China's unabashed response to criticism of its currency policy, and the shift to easy monetary policy and rising public debt in developed economies, reflecting China's growing self-confidence and strong resistance to international pressure.　　Don't "quench your thirst." American media look forward to hearing more although Mr. Zhou's trip to the United States has been very busy, including at least 4 public speeches, his series of statements seems to have failed to "quench the thirst" of foreign media.　　U.S. media continue to believe that Zhou Xiaochuan "did not make a public statement on the global exchange rate issue, but reiterated China's consistent low-key attitude towards the renminbi exchange rate".　　As a result, foreign media began to struggle to find what they wanted to hear in Mr Zhou's comments. The Wall Street Journal found Mr Zhou's statement: "If China's economy develops steadily and inflation remains at relatively low levels, then the renminbi could become stronger in the future."　　"It is the clearest signal to date that China will allow further appreciation of the renminbi, but the pace of appreciation may be slow," the report said.　　The U.S. debt issue is particularly attractive to Americans as the "family" of China's monetary policy, and Mr Zhou's stance on foreign debt also attracts the attention of foreigners, especially Americans.　　The Wall Street Journal's report today closely watched Zhou's stance on China's purchases of Greek bonds.　　Mr Zhou said China was largely confident in the eurozone and in every eurozone country. In fact, Americans are more interested in their own national debt, so the Wall Street Journal has focused more attention on Mr Zhou's remarks: the US needs to develop a "very credible" medium-term plan to cut the deficit.　　The article recalls that the Chinese government has clearly expressed this position before. Background link Mr Zhou's popularity was not the first time Mr Zhou had been so concerned about foreign media. Last yearMr Zhou's proposal to replace the dollar as a reserve currency with the IMF's special drawing Rights has sparked a firestorm.　　Geithner, the US Treasury secretary, had been "open minded" to Mr Zhou's proposal, with the result that the dollar had plummeted and Mr Geithner had to make a public move to save the situation. Wen/Money industry reporter Yang Yi Yin Xiaolin