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.

In what ways has the RMB's value been influenced by market pressures, and what does this imply for China's economic strategy?

What responsibilities does China have as a major economy in the context of global economic discussions?