Comment: Playing Yuan Politics (31 Aug)

How significant is last month's announcement by the Chinese monetary authorities that it is to drop the dollar peg for the yuan in favour of a basket of currencies?


What role has currency intervention by Asian central banks played in bringing about the infamous 'global imbalances' and what should be done by Western governments in response to such interventions? Answers to these questions are currently dividing opinion amongst leading Western economists.

Consider first the

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