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China's Finance Minister Lou Jiwei: now is not the right time to raise interest rates in the U.S.
China's Finance Minister Lou Jiwei said in an interview published in the China Business News on Monday that now is not the right time to raise interest rates in the U.S.
"The United States isn't at the point of raising interest rates yet and under its global responsibilities it can't raise rates," he said.
Jiwei added that the U.S. "should assume global responsibilities" because of the U.S. dollar's status as a global currency.
The finance minister pointed out the slowdown in the global economy was caused by "weak recovery of developed countries".
"Developed countries should now have faster recoveries to give developing countries some external demand," he added.
Jiwei noted that the slowdown in the Chinese economy is a healthy process.
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