Heterodox
The recent decision by the People’s Bank of China to let the renminbi fall below CN¥7 per US dollar has little to do with trade or currency wars. Rather, it represents an important step by the PBOC toward reforming China’s inflexible exchange-rate regime.… Important because of who is saying it.Project SyndicateThe Renminbi’s Bid for FreedomYu Yongding, former president of the China Society of World Economics and director of the Institute of World Economics and Politics at the Chinese...
Read More »