We believe that the Federal Reserve has to carry on with a progressive increase in interest rates as a consequence of the American economy.

I mean, the world has already done a big, big effort to forget debt to countries heavily indebted and with low income. And that has given good chances to countries to get out of poverty.

There is not an alternative to the US as the engine for growth.

To try to correct imbalances with trade restrictions is a grave error.

So the American economy needs the world, and the world needs the American economy.

We also need a fund that can say 'no'.

We have believed for many years, much earlier than anyone else was talking about this issue, that it was in the interest of China to evolve to a more flexible exchange rate system.