China’s central bank governor Zhou Xiaochuan said Tuesday that a lack of consensus on how to solve the global economic crisis will lengthen the process of resolving it, Reuters reported, citing state media. He reiterated China’s position that the country is willing to “support” the International Monetary Fund in raising funds to ameliorate economic stress. Earlier this month the central bank issued a report blaming low savings rates in the US for the crisis, but on Tuesday Zhou pointed to other factors, including regulatory failures, too many credit ratings agencies and corporate carelessness. Last week Zhou called for a new currency to be created to replace the dollar as the global reserve currency, but he made no mention of the proposal on Tuesday. China’s ambassador to the United Kingdom has already played down the suggestion.
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