It says the currency is 16% cheaper than it should be
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It has the world’s most undervalued currency and one of its biggest trade surpluses
Officials believe that the yuan has finally come of age
Demanding that China revalue the yuan gets both the diagnosis and the cure wrong, write Gita Gopinath, Pierre-Olivier Gourinchas…
Not nearly as much as it could be
Treating it as a mere by-product of deeper distortions lets China off too easily, argue Anantha Nageswaran and P.S. Srinivas
More countries are starting to use China’s payment infrastructure
