MCKINNON, RONALD I. - In: The Singapore Economic Review (SER) 50 (2005) sp, pp. 463-474
Todays' American mercantile pressure on China to appreciate the renminbi against the dollar is eerily similar to the American pressure on Japan to appreciate the yen that began over 30 years ago. There are some differences between the two cases, but downward pressure on Chinese interest rates...