Perhaps it is more realistic to regard the change as part of a global rebalancing, as Asia becomes richer.
But broad agreement on the scale of global rebalancing required would be useful.
Beijing also argues that it has done a lot to help global rebalancing.
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However, Chris Wood, an analyst at CLSA, a brokerage, argues that China is doing more for global rebalancing than America.
French Minister of Economic Affairs Christine Lagarde disagreed, saying that there is simply a massive global rebalancing that is taking place.
And, yes, a stronger yuan would also speed up global rebalancing.
China announced on State TV that the Peoples Bank of China was going to allow fresh appreciation of the yuan, and undertake its bit for global rebalancing.
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The implementation of key structural reforms is critical to strengthening growth and creating jobs, and promoting global rebalancing, such as policies that affect social safety nets and investment patterns.
"Much more needs to be done to promote effective global rebalancing, which requires stronger demand in surplus countries and continued progress toward greater exchange rate flexibility, " Mr Lew said.
In a recent study, economists at the IMF analysed the respective impact of deficit reduction, global rebalancing and productivity-enhancing structural reforms on the growth prospects of big rich economies and found that by far the strongest positive effect came from structural reforms.
Global economic rebalancing is eroding our competitive advantage.
There are few diplomatic and economic challenges that can be addressed in the world without having China at the table: from North Korea, to Iran, to Syria, to global economic rebalancing and climate change.
Global demand needs rebalancing, away from indebted rich economies and towards more spending in the emerging world.
There has been too little rebalancing of global demand towards big emerging economies.
It would hasten the reorientation of China's economy from exports to consumer spending, give its central bank more freedom to fight inflation, and divert demand to depressed Europe and America, catalysing an essential rebalancing of the global economy.
There are exciting companies springing up all over the place both in the U.S. and emerging markets that will lead us into a new era of technology, and there are sectors that are positioned to benefit from a rebalancing of the global economy.
They will, however, be pleased with another sort of rebalancing: that of global institutions to better reflect today's economic realities.
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