China should not rush to float its currency

Alan Greenspan's recent comment that China should float its currency and dump the dollar peg is not sound advice, this article says. The abandonment of the dollar peg would open a Pandora's box in China and could leave the world economy worse off.

First published in the UK edition of the Financial Times, 3 August. The writer, Sebastian Edwards, is a professor of economics at the University of California, Los Angeles' Anderson Graduate School of Management.

China is under increasing pressure to

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