Jack Lew: Renminbi Has to Go Up and Down With Markets

The video discusses China's exchange rate policy and economic transition from an industrial export-based model to a consumer-driven economy. It highlights the challenges faced by China, including market dynamics and RMB valuation. The importance of clear communication by policymakers is emphasized, especially in the context of global economic responsibilities and China's role in the G20.

What is a significant challenge China faces during its economic transition?

• Maintaining an industrial export-based model

• Communicating policies clearly

• Reducing consumer spending

• Increasing industrial production

How should the RMB respond to market pressures according to the discussion?

• It should only appreciate

• It should only depreciate

• It should move with market pressures

• It should remain constant

What is a potential consequence of China not communicating its economic policies clearly?

• Market speculation

• Higher consumer confidence

• Increased industrial output

• Stable exchange rates

Why is it important for China to host the G20?

• To reduce its economic growth

• To avoid international scrutiny

• To increase its industrial exports

• To accept global responsibility

What is a key aspect of China's role in the global economy?

• Taking responsibility and adhering to rules

• Standing back from global issues

• Avoiding international rules

• Focusing solely on domestic policies