ADB boss ups pressure over yuan peg
11 February 2005
Asian Development Bank chief Haruhiko Kuroda urged Beijing to adopt a more flexible currency exchange system. Japan's former vice minister of finance said removing the yuan's peg to the US dollar would be good for both China and its neighbors. He said the peg made sense in the early 1990s when it helped stabilize China's economy during a period of high inflation, but not now.