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Economy

Lagarde sees China determined to move forward

IMF managing director suggests Japan lift consumption tax bit by bit

Christine Lagarde, managing director of the International Monetary Fund, speaks to The Nikkei in Tokyo on Nov. 8. (Photo by Hiroyuki Kobayashi)

TOKYO -- Although China's market-liberalization efforts have been rather muted since 2015, when the International Monetary Fund announced it would add the yuan to its Special Drawing Rights basket, IMF Managing Director Christine Lagarde on Wednesday said Beijing remains on the right course.

"The political will to have that currency included is certainly a signal that there is no way back, only a way forward," Lagarde said during an exclusive interview with The Nikkei. "The Chinese authorities have done what was necessary and continue to do so."

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