Bank of England governor Mervyn King calls on China to import more to help solve global financial problems.
Mr King explained that countries such as the UK and the US, which import more than they export, were facing debt problems and had unsustainably high levels of consumption.
On the other hand, countries such as China, Japan and Germany had persistent trade surpluses.
He argued that in order for countries with trade deficits to sort out their debt problems, countries like China had to import more, so that indebted countries had a chance to grow their economies and pay off their debts.
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