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Buzz & Banter



Related to the Chinese currency issue, I wanted to bring to your attention an editorial that appeared in the Financial Times this morning on the subject, "A modest proposal for China's renminbi." In this editorial Morris Goldstein and Nicholas Lardy, senior fellows at the Institute for International Economics, suggest that the politicization of the renminbi exchange rate is already a done deal, and that perhaps a "medium-size revaluation" is a better solution than the either/or proposition of a large revaluation or no revaluation.

This is not a specific endorsement. I believe you should make up your own mind. I just wanted to point out a disparate view that may very well get lost in the rhetoric we can expect to hear in the coming weeks from the politicians.

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