Moving to a truly flexible exchange rate requires a lot of preparatory steps. China is seriously engaged in taking these preparatory steps,

I think that China remains committed to greater flexibility in their currency and opening of their financial markets, ... It's an irreversible course and we think they're now in a position to move even faster.

It is imperative that China move toward greater flexibility as quickly as possible,

They've gotten on the path that allows them to do so and we'd like to see China continue on that path,