--- title: "Meaning & Key Takeaway of: We have believed for many years, much…" description: "\"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 f..." image: "https://sms4smile.com/quotes/i/5dc/rodrigo-rato-32649_china_we-have-believed-for-many-years-much-ear_2295504.png" --- # We have believed for many years, much earlier than anyone… ![“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.” quote by Rodrigo Rato](https://sms4smile.com/quotes/i/5dc/rodrigo-rato-32649_china_we-have-believed-for-many-years-much-ear_2295504.png) [Download](https://sms4smile.com/quotes/i/5dc/rodrigo-rato-32649_china_we-have-believed-for-many-years-much-ear_2295504.png) [Open image](https://sms4smile.com/quotes/i/5dc/rodrigo-rato-32649_china_we-have-believed-for-many-years-much-ear_2295504.png) > “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.” [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. He claimed early that China needed a more flexible exchange rate for its own benefit. **In simple terms:** China should adjust its currency more freely. Key Takeaway Support currency flexibility for balanced growth. Themes economics currency China Mood reflective critical Type economic forecast When to use this quote - trade negotiations - financial planning - investment strategy - policy advising Key Concepts exchange rate flexibility early insight growth policy Questions to Reflect On - Was the prediction accurate? - What risks arise from early policy advocacy? A Different Perspective Premature predictions can misguide markets. ★ ★ ★ ★ ★ No ratings yet [Believed Years](https://sms4smile.com/quotes/about/believed-years-5409916/) [China](https://sms4smile.com/quotes/about/china/) [China Evolve](https://sms4smile.com/quotes/about/china-evolve-5409915/) [Evolve](https://sms4smile.com/quotes/about/evolve/) [Exchange Rate](https://sms4smile.com/quotes/about/exchange-rate-550821/) [Flexible](https://sms4smile.com/quotes/about/flexible/) [Flexible Exchange](https://sms4smile.com/quotes/about/flexible-exchange-5409914/) [Interest](https://sms4smile.com/quotes/about/interest/) [Issues](https://sms4smile.com/quotes/about/issues/) [Rate](https://sms4smile.com/quotes/about/rate/) [Talking](https://sms4smile.com/quotes/about/talking/) [Years](https://sms4smile.com/quotes/about/years/) [Years Earlier](https://sms4smile.com/quotes/about/years-earlier-231112/) ## Related quotes > [A flexible exchange rate is important, and it shouldn't be artificially restrained because of the needs of the economy.](https://sms4smile.com/quotes/elvira-nabiullina/a-flexible-exchange-rate-is-important-and-it-shouldn-t-be/) [Elvira Nabiullina](https://sms4smile.com/quotes/author/elvira-nabiullina/) > [The exchange rate of the Rand against the dollar, pound or euro makes South Africa an attractive location. The positive side of this is…](https://sms4smile.com/quotes/john-kani/the-exchange-rate-of-the-rand-against-the-dollar-pound-or-euro-makes/) [John Kani](https://sms4smile.com/quotes/author/john-kani/) > [When financial sectors are small and capital is mobile, floating exchange rates spell massive currency volatility. When a lot of foreign capital flows in,…](https://sms4smile.com/quotes/zanny-minton-beddoes/when-financial-sectors-are-small-and-capital-is-mobile-floating/) [Zanny Minton Beddoes](https://sms4smile.com/quotes/author/zanny-minton-beddoes/) > [Although economists have studied the sensitivity of import and export volumes to changes in the exchange rate, there is still much uncertainty about just…](https://sms4smile.com/quotes/martin-feldstein/although-economists-have-studied-the-sensitivity-of-import-and-export/) [Martin Feldstein](https://sms4smile.com/quotes/author/martin-feldstein/) > [Monetary policy is like juggling six balls... it is not 'interest rate up, interest rate down.' There is the exchange rate, there are long…](https://sms4smile.com/quotes/raghuram-rajan/monetary-policy-is-like-juggling-six-balls-it-is-not-interest-rate-up/) [Raghuram Rajan](https://sms4smile.com/quotes/author/raghuram-rajan/) > [Exchange rate understandings are of little use on their own.](https://sms4smile.com/quotes/charles-dallara/exchange-rate-understandings-are-of-little-use-on-their-own/) [Charles Dallara](https://sms4smile.com/quotes/author/charles-dallara/) > [Exchange-rate stability is extremely important.](https://sms4smile.com/quotes/yoshihide-suga/exchange-rate-stability-is-extremely-important/) [Yoshihide Suga](https://sms4smile.com/quotes/author/yoshihide-suga/) > [I don't have a shred of regret about entering the exchange-rate mechanism.](https://sms4smile.com/quotes/john-major/i-don-t-have-a-shred-of-regret-about-entering-the-exchange-rate/) [John Major](https://sms4smile.com/quotes/author/john-major/) > [Turkey does not have an official exchange rate target.](https://sms4smile.com/quotes/ali-babacan/turkey-does-not-have-an-official-exchange-rate-target/) [Ali Babacan](https://sms4smile.com/quotes/author/ali-babacan/) > [There are so many currency exchange rate problems that people are buying gold as a safe haven. Right now, gold looks like a safe…](https://sms4smile.com/quotes/michael-hudson/there-are-so-many-currency-exchange-rate-problems-that-people-are/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [What is the right exchange rate at one point is not necessarily the right exchange rate at another.](https://sms4smile.com/quotes/norman-lamont/what-is-the-right-exchange-rate-at-one-point-is-not-necessarily-the/) [Norman Lamont](https://sms4smile.com/quotes/author/norman-lamont/) > [After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate.](https://sms4smile.com/quotes/steve-hanke/after-the-maxi-yuan-depreciation-of-1994-and-until-2005-exchange-rate/) [Steve Hanke](https://sms4smile.com/quotes/author/steve-hanke/) > [A nation's exchange rate is the single most important price in its economy; it will influence the entire range of individual prices, imports and…](https://sms4smile.com/quotes/paul-volcker/a-nation-s-exchange-rate-is-the-single-most-important-price-in-its/) [Paul Volcker](https://sms4smile.com/quotes/author/paul-volcker/) > [Celebrity is a currency with an exchange rate almost as strong as anonymity.](https://sms4smile.com/quotes/jon-foreman/celebrity-is-a-currency-with-an-exchange-rate-almost-as-strong-as/) [Jon Foreman](https://sms4smile.com/quotes/author/jon-foreman/) > [The IMF insisted that both Russia and Brazil maintain their currency at over-valued levels. Who are you protecting when you try to maintain that…](https://sms4smile.com/quotes/joseph-stiglitz/the-imf-insisted-that-both-russia-and-brazil-maintain-their-currency/) [Joseph Stiglitz](https://sms4smile.com/quotes/author/joseph-stiglitz/) ## More by Rodrigo Rato > [Oil prices have certainly become a threat for the world economy.](https://sms4smile.com/quotes/rodrigo-rato/oil-prices-have-certainly-become-a-threat-for-the-world-economy/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [What we have achieved is a good example of how the right policies deliver.](https://sms4smile.com/quotes/rodrigo-rato/what-we-have-achieved-is-a-good-example-of-how-the-right-policies/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [To try to correct imbalances with trade restrictions is a grave error.](https://sms4smile.com/quotes/rodrigo-rato/to-try-to-correct-imbalances-with-trade-restrictions-is-a-grave-error/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [We would certainly encourage the Italian government to put forward an ambitious agenda of reform.](https://sms4smile.com/quotes/rodrigo-rato/we-would-certainly-encourage-the-italian-government-to-put-forward-an/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [And it's also producing a growth in debt to the United States that will weight very heavily in a country that has to address…](https://sms4smile.com/quotes/rodrigo-rato/and-it-s-also-producing-a-growth-in-debt-to-the-united-states-that/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [Masood Ahmed brings to the position of director of external relations extensive experience gained in a range of senior positions in international finance and…](https://sms4smile.com/quotes/rodrigo-rato/masood-ahmed-brings-to-the-position-of-director-of-external-relations/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [We have seen a strong increase in oil prices and up to this year we see that the world has been able to absorb…](https://sms4smile.com/quotes/rodrigo-rato/we-have-seen-a-strong-increase-in-oil-prices-and-up-to-this-year-we/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [So the American economy needs the world, and the world needs the American economy.](https://sms4smile.com/quotes/rodrigo-rato/so-the-american-economy-needs-the-world-and-the-world-needs-the/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [And then you might decide that the country can just spend maybe years or decades to regain that credit, or maybe give that county…](https://sms4smile.com/quotes/rodrigo-rato/and-then-you-might-decide-that-the-country-can-just-spend-maybe-years/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [Most cases, I would say, in a huge amount of cases, countries that have worked with us and have used our financial facilities have…](https://sms4smile.com/quotes/rodrigo-rato/most-cases-i-would-say-in-a-huge-amount-of-cases-countries-that-have/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [I mean, the world has already done a big, big effort to forget debt to countries heavily indebted and with low income. And that…](https://sms4smile.com/quotes/rodrigo-rato/i-mean-the-world-has-already-done-a-big-big-effort-to-forget-debt-to/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [We also need a fund that can say 'no'.](https://sms4smile.com/quotes/rodrigo-rato/we-also-need-a-fund-that-can-say-no/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [There is not an alternative to the US as the engine for growth.](https://sms4smile.com/quotes/rodrigo-rato/there-is-not-an-alternative-to-the-us-as-the-engine-for-growth/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) > [We believe that the Federal Reserve has to carry on with a progressive increase in interest rates as a consequence of the American economy.](https://sms4smile.com/quotes/rodrigo-rato/we-believe-that-the-federal-reserve-has-to-carry-on-with-a/) [Rodrigo Rato](https://sms4smile.com/quotes/author/rodrigo-rato/) [Explore all 15 Rodrigo Rato quotes ](https://sms4smile.com/quotes/author/rodrigo-rato/) ## More China quotes > [I don't want to go into space because of war. I think we would if it was triggered. If China said they want to…](https://sms4smile.com/quotes/neil-degrasse-tyson/i-don-t-want-to-go-into-space-because-of-war-i-think-we-would-if-it/) [Neil deGrasse Tyson](https://sms4smile.com/quotes/author/neil-degrasse-tyson/) > [ \[The Dalai Lama\] told me some years ago, "I've made every concession to China, and I've been as open and tolerant as I could,… ](https://sms4smile.com/quotes/pico-iyer/the-dalai-lama-told-me-some-years-ago-i-ve-made-every-concession-to/) [Pico Iyer](https://sms4smile.com/quotes/author/pico-iyer/) > [One of the things the United States does well is building coalitions. What the U.S. knows is that if you don't have a coalition…](https://sms4smile.com/quotes/shimon-peres/one-of-the-things-the-united-states-does-well-is-building-coalitions/) [Shimon Peres](https://sms4smile.com/quotes/author/shimon-peres/) > [Personally, I prefer contemporary films, but the market calls for more period choices, especially since China opened up a cinema market in Hong Kong.…](https://sms4smile.com/quotes/donnie-yen/personally-i-prefer-contemporary-films-but-the-market-calls-for-more/) [Donnie Yen](https://sms4smile.com/quotes/author/donnie-yen/) > [There is no precedent of an advanced economy withdrawing from a trade agreement as deep and as complex as the European Union.](https://sms4smile.com/quotes/jo-johnson/there-is-no-precedent-of-an-advanced-economy-withdrawing-from-a-trade/) [Jo Johnson](https://sms4smile.com/quotes/author/jo-johnson/) > [In China, people are moving from bigger cars to small hatches, and interestingly, the Indian market is graduating to bigger cars and sedans. I…](https://sms4smile.com/quotes/winfried-vahland/in-china-people-are-moving-from-bigger-cars-to-small-hatches-and/) [Winfried Vahland](https://sms4smile.com/quotes/author/winfried-vahland/) > [Broken china lasts longer than unbroken.](https://sms4smile.com/quotes/jules-renard/broken-china-lasts-longer-than-unbroken/) [Jules Renard](https://sms4smile.com/quotes/author/jules-renard/) > [Language is so specific to art, all the way to the past in China. Previously, people were not allowed to include various regional dialects…](https://sms4smile.com/quotes/jia-zhangke/language-is-so-specific-to-art-all-the-way-to-the-past-in-china/) [Jia Zhangke](https://sms4smile.com/quotes/author/jia-zhangke/) > [I don't see why we and the Chinese should have to be enemies.](https://sms4smile.com/quotes/indira-gandhi/i-don-t-see-why-we-and-the-chinese-should-have-to-be-enemies/) [Indira Gandhi](https://sms4smile.com/quotes/author/indira-gandhi/) > [India may be overtaking China as the world's most polluted country. Even now, which country is worse depends on the day.](https://sms4smile.com/quotes/steve-inskeep/india-may-be-overtaking-china-as-the-world-s-most-polluted-country/) [Steve Inskeep](https://sms4smile.com/quotes/author/steve-inskeep/) > [If China someday gains a more fair, just, and accountable system of government, it will be due to the hard work and efforts of…](https://sms4smile.com/quotes/rebecca-mackinnon/if-china-someday-gains-a-more-fair-just-and-accountable-system-of/) [Rebecca MacKinnon](https://sms4smile.com/quotes/author/rebecca-mackinnon/) > [We're always willing to look at ways NAFTA can work better. But it's a fine line between looking at ways to make it work…](https://sms4smile.com/quotes/stephen-harper/we-re-always-willing-to-look-at-ways-nafta-can-work-better-but-it-s-a/) [Stephen Harper](https://sms4smile.com/quotes/author/stephen-harper/) > [The situation with Tibet has to change. China is one of the last huge dictatorships, holding on to these colonies, provinces. 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Sanger](https://sms4smile.com/quotes/author/david-e-sanger/) [Browse all 3,827 China quotes ](https://sms4smile.com/quotes/about/china/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "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.", "creator": { "@type": "Person", "name": "Rodrigo Rato" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/rodrigo-rato/we-have-believed-for-many-years-much-earlier-than-anyone-else-was/", "about": { "@type": "Thing", "name": "China" }, "@id": "https://sms4smile.com/quotes/rodrigo-rato/we-have-believed-for-many-years-much-earlier-than-anyone-else-was/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/5dc/rodrigo-rato-32649_china_we-have-believed-for-many-years-much-ear_2295504.png", "contentUrl": "https://sms4smile.com/quotes/i/5dc/rodrigo-rato-32649_china_we-have-believed-for-many-years-much-ear_2295504.png", "url": "https://sms4smile.com/quotes/i/5dc/rodrigo-rato-32649_china_we-have-believed-for-many-years-much-ear_2295504.png", "width": 1080, "height": 1080, "caption": "“We have believed for many years, much earlier than anyone else was talking about this issue, that it was in…” — Rodrigo Rato", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Rodrigo Rato", "item": "https://sms4smile.com/quotes/author/rodrigo-rato/" }, { "@type": "ListItem", "position": 4, "name": "We have believed for many years,...", "item": "https://sms4smile.com/quotes/rodrigo-rato/we-have-believed-for-many-years-much-earlier-than-anyone-else-was/" } ], "@id": "https://sms4smile.com/quotes/rodrigo-rato/we-have-believed-for-many-years-much-earlier-than-anyone-else-was/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```