China is being pressured to halt its interventions to prop up the US dollar in world currency markets, with opponents emphasizing how much harm the policy is causing to other countries. But China’s authorities might respond more favorably to an argument that points out how China’s own economic health might benefit from abandoning the current exchange-rate policy, which pegs the yuan to the dollar.
China is being pressured to halt its interventions to prop up the US dollar in world currency markets, with opponents emphasizing how much harm the policy is causing to other countries. But China’s authorities might respond more favorably to an argument that points out how China’s own economic health might benefit from abandoning the current exchange-rate policy, which pegs the yuan to the dollar.