Libertarian Jackass

"Life is short, but truth works far and lives long; let us speak truth." -- Schopenhauer

Wednesday, September 07, 2005

IS THE CHINESE RMB OVERVALUED? As suggested by a Bush administration official, if capital controls were removed, "we are likely to see the remnibi fall." In a real general sense, of course it's overvalued. I think the peg to the dollar creates a situation where demand for the yuan is greater than it otherwise would be.

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