In late May, former People’s Bank of China governor Zhou Xiaochuan dismissed the importance of keeping the yuan above 7 to the US dollar, prompting analysts to argue that a weaker yuan could help exporters. Photo: Bloomberg

Trade war with US could spark global financial ‘chaos’, warns former China central bank governor

  • Former People’s Bank of China governor Zhou Xiaochuan warns that emerging markets reliant on exports may resort to competitive currency devaluations
  • Ex-central bank chief tells Lujiazui financial forum that reform of the World Trade Organisation could form part of a permanent solution
Topic |   G20

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In late May, former People’s Bank of China governor Zhou Xiaochuan dismissed the importance of keeping the yuan above 7 to the US dollar, prompting analysts to argue that a weaker yuan could help exporters. Photo: Bloomberg
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