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Paul Krugman: China, Japan, America and the Renminbi

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opednews.com Headlined to H3 9/13/10

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Senior American policy figures have repeatedly balked at doing anything about Chinese currency manipulation, at least in part out of fear that the Chinese would stop buying our bonds. Yet in the current environment, Chinese purchases of our bonds don't help us -- they hurt us. The Japanese understand that. Why don't we?

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