Former U.S. Treasury Secretary Henry Paulson fingered a new scapegoat for the world"s economic problems. He said massive savings accumulations in countries such as China helped to trigger the crisis by squeezing interest rates and pushing investors toward riskier assets, the Financial Times reported on January 2.Zhang Jianhua, Director of the Research Bureau at the People"s Bank of China, rebutted Paulson"s comments as "extremely ridiculous and irresponsible" in an interview with Xinhua News Agency. Edited excerpts of his statements follow.

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