Paul Krugman: The Renminbi Runaround

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At www.nytimes.com

China announced a change in its currency policy, a move clearly intended to head off pressure from the United States and other countries at this weekend's G-20 summit meeting. Unfortunately, the new policy doesn't address the real issue, which is that China has been promoting its exports at the rest of the world's expense.

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At www.nytimes.com

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