Mundell Says U.S. Action on Yuan Rate Would Be a ‘Disaster’
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Nobel-Prize winning economist Robert Mundell said U.S. legislation to press China to raise the value of the yuan would be a “disaster” and fail to narrow the trade deficit between the two nations.
“This is not going to help Americans,” Mundell said in a Bloomberg Television interview in Hong Kong. “This is not going to create jobs for Americans. It’s just going to create a disaster.”