Peterson's Lardy Interview on China's Currency Policy

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June 21 (Bloomberg) -- Nicholas Lardy, a senior fellow at the Peterson Institute for International Economics in Washington, talks with Bloomberg's Rishaad Salamat about China's shift in currency policy, and its implications for the nation's economy and trade. The People’s Bank of China two days ago indicated it’s abandoning the 6.83 yuan peg to the dollar adopted during the global crisis to shield exporters. The central bank said while there’s no basis for “large scale” moves in the currency, the exchange rate will be allowed increased “flexibility.” (Source: Bloomberg)

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