A Strong Yuan? Careful What You Wish ForDr. John Lee
On Oct. 3, the U.S. Senate overwhelmingly endorsed opening debate on imposing tariffs on imports from countries with undervalued currencies. On the following day, Federal Reserve Chairman Ben S. Bernanke added more fuel to the fire by claiming that Beijing’s currency policies are preventing a more rapid rise in Chinese domestic demand, thereby hurting American and global growth.
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