US Treasury Secretary John Snow has warned China that it should abandon the practice of "pegging" its currency to the US dollar. Snow’s statement is here, and the full report to Congress is here.
Co-blogger Bob has remarked on this issue before, and a lot of people clearly care a great deal about it. Some think that losing the peg is a good idea, some do not. And some say it doesn’t matter. All of these people purport to know what they’re talking about. My own view is, well, uh … oh, wait, I just remembered, I have this really important thing I have to do right now … sorry, have to run …
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