Treating it as a mere by-product of deeper distortions lets China off too easily, argue Anantha Nageswaran and P.S. Srinivas
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Demanding that China revalue the yuan gets both the diagnosis and the cure wrong, write Gita Gopinath, Pierre-Olivier Gourinchas…
It says the currency is 16% cheaper than it should be
The world’s second-biggest economy is stumbling into fiscal austerity
It is suffering economic costs for its industrial dominance
It is a problem not for the rest of the world, but for itself
Even though capital markets are staging a comeback
