Learning to Float
The economic and welfare costs of China’s exchange-rate policy are too high. It is time for China to consider allowing the renminbi to float freely, while reserving the right to intervene when it must, and tighten the management of cross-border capital flows.
https://prosyn.org/GBO5sQf
BEIJING – Despite shaky economic fundamentals, US government securities are usually regarded as a safe haven. Whenever a crisis erupts, the value of US Treasury bonds gets a boost. Indeed, US Treasuries were among the few assets that did not decline during the global financial crisis in 2008-2009.