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October 04, 2004

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G7

China has taken to imitating Groucho Marx in expressing a complete lack of interest in joining the G7 anytime soon. Why would they bother? Sure it's nice to sit and chew the fat with some of the big boys, and sure China is now the seventh biggest economy in the world (and growing rapidly to boot), but to go and listen to everyone lecturing you that you need to loosen your exchange rate every year is a bit much. The G7 has ceased to be an effective talking shop years ago.

 posted by Simon on 10.04.04 at 12:27 PM in the




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