Why does China's PBC use so many tools to control the financial system compared to the Fed?

Question

Quizplus · Accepted Answer

The Answer is As we saw in Figure 8.1 (in the text), China has more targets (policy objectives) to control than what is found in the United States. Many (but not all) of these objectives center around the exchange rate and trade (which feedback into employment and reserve accumulation). In effect, China attempts to control both quantity and prices, but for a given demand curve, market forces would normally not allow both to be controlled. As a result, more tools are needed.

Why Does China's PBC Use So Many Tools to Control