Currency peg puts heat on China's economy: Fed

Federal Reserve chairman Alan Greenspan said Thursday that China's currency peg with the US dollar may need to end if it is to prevent its economy from overheating. In a speech to the World Affairs Council of Dallas, Greenspan suggested a revaluation of the yuan would merely transfer production to other low-wage countries.

Source: Bloomberg

China may need to end its currency peg to the US dollar to keep its economy from overheating, not because such a shift would lead to more US jobs and exports

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