BIS Review 112/2007  1  judgments are informed, our pronouncements are not made in isolation. The roles and responsibilities of other public agents, domestic and abroad, and private market participants are particularly critical during times of financial turmoil. We are, after all, central bankers, not central planners.
[Question] But in many countries there is growing concern over international competition at a time when the implementation of economic reforms is also triggering uncertainty on the welfare front. Some days ago the European textile industry called on the European Commission to levy duties on Chinese goods. What do you think of that option?