Hyperinflation led to Hitler and Mao. What about China now?

posted by
March 1, 2011
The Christian Science Monitor
by Michael Justin Lee  
Posted in Commentary

"The US Treasury Department’s recent report downgraded the Chinese yuan from simply 'undervalued' to 'substantially undervalued.' This was predictably met by renewed claims from Senators Charles Schumer (D) of New York and Max Baucus (D) of Montana that China is manipulating its currency, and there is surely much more of that kind of rhetoric on the way from them and others. ... But this is no time for indignation, righteous or otherwise. Far more effective would be to emphasize to China that its currency policy presents a challenge that, if unchecked, could well upend its own tremendous economic gains. In other words, China could be shooting itself in the foot." (03/01/11)

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