The chairman of the US Federal Reserve has accused China of damaging prospects for a global economic recovery through its deliberate intervention in the currency market to hold down the value of the renminbi.
…..“Right now, our concern is that the Chinese currency policy is blocking what might be a more normal recovery process in the global economy,” he said. “It is to some extent hurting the recovery”.
3 Replies to “Bernanke criticises China over currency – FT.com”
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Again, trying to find a scape goat？ A trick too old to work…..
China may adjust their currency in the future . I imagine that they would like the US to repay the trillions of dollars they have been lent to “balance the books” before entering into currency realignment.
Last thing they would want is the US to repay the $1.3 T invested in Treasuries. The yuan would soar against the dollar, killing China’s exports overnight.