Dollar may well plunge, but the sky will not fall ASIA EDITION

The FT suggests that a sharp revaluation of Asian currencies, particularly the Chinese renminbi, is key to eradicating the gigantic trade imbalance between Asia and the US. But this was not the answer with regard to Japan. The yen has risen substantially against the dollar over the past 25 years. Ye...

Full description

Saved in:
Bibliographic Details
Published inThe Financial times (London ed.)
Main Author Cerier, Steven E
Format Newspaper Article
LanguageEnglish
Published London (UK) The Financial Times Limited 30.11.2006
Subjects
Cerier, Steven E
Exports
International trade
Renminbi
Online AccessGet full text

Cover

More Information
Summary:The FT suggests that a sharp revaluation of Asian currencies, particularly the Chinese renminbi, is key to eradicating the gigantic trade imbalance between Asia and the US. But this was not the answer with regard to Japan. The yen has risen substantially against the dollar over the past 25 years. Yet, the US still has a persistently large trade deficit with Japan. Instead of helping to redress the global trade imbalance between the US and Asia, a revaluation of the renminbi would probably just redistribute it.
ISSN:0307-1766