This greater weight and influence in the world economy also entail a greater responsibility to assess the global implications of national economic policies. As I have already stressed, this is what the euro area and the United States also need to do so as to facilitate a smooth adjustment of global imbalances.
The development of the Chinese economy and its growing trade surplus have been spectacular. They reflect the international competitiveness and dynamism of your economy and the confidence which international investors have in its future. They have been accompanied by the accumulation of foreign exchange reserves at a pace and magnitude almost unprecedented in history.