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World Out of Balance
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Krugman says that Obama better warn the Chinese that they are playing a dangerous game with their currency. He says month after month of the suffering of unemployed workers in the USA is going to look very bad for the Chinese, at the same time as the trade deficit numbers soar again. He asks for urgency from the Obama administration in telling the Chinese to let their currency appreciate . See the related article by Niall Ferguson.
Global Economic Growth post-2008- Inflation, Interest Rates, the Dollar and Exchange Rates
08/15/2005
How all these factors come together for global economic growth, any adjustments, and risks, and different perspectives on achieving the right mix for policies.
Grouped Articles
BusinessWeek 08/15/2005
The Dollar at Home -- and Abroad
Wall Street Journal 04/28/2006
Wall Street Journal 08/30/2006
Wall Street Journal 08/29/2006
Geithner Hints at Harder Line on China Trade
New York Times 01/23/2009
China Rejects Currency Manipulation Charge
New York Times 01/25/2009
Experts who agree that its beneficial for the U.S. to lift exports through devaluation of the currency.
10/15/2009
This includes Krugman, recent Nobel Prize winner, Morici, University of Maryland, Hatzius of Goldman and Kasman of JP Morgan. Other experts also welcome the depreciation ogf the dollar as long as it is not a sudden drop. With consumers strapped, quantitiative easing reaching its limits, the stimulus in place, rising unemployment in 2010 and very poor capacity utilization, exports are a sure way to lift the economy. Morici and Krugman see a Chinese disconnect with it siphonig growth away from other countries through keeping its currency low. Morici cites the example of solar panels where China requires 75% domestic content for imports.
Grouped Articles
Cities Adapt With Mixed Results
Wall Street Journal 09/27/2011
Wall Street Journal 10/04/2011
The Engine That Pulled Us Out of Recession
Wall Street Journal 03/19/2015
Cheaper Chinese Currency Has Global Impact
Wall Street Journal 08/12/2015
U.S. Strains Mount After China Devalues Yuan
Wall Street Journal 08/12/2015
Peter Morici: Behind the Dollar's Dog Days
BusinessWeek 10/15/2009
Frankly Speaking on the great recession, the dollar and trade deficits 2009-2012
10/14/2009
Peter Morici of the University of Maryland and others express their view in 2009 on what needs to happen. The dollar Morici says needs to be devalued 40-50% against the yuan. He says that while China talks about an alternative reserve currency, it is part of the problem. And the crisis was caused by the U.S. demand that was inflated by the cheap yuan and then collapsed, says Morici.
Grouped Articles
Wall Street Journal 10/04/2011
Europeâs Debt Crisis Is Casting a Shadow Over China
New York Times 05/17/2010
An Accord (and Lessons) to Remember
Wall Street Journal 09/21/2010
Cheaper Chinese Currency Has Global Impact
Wall Street Journal 08/12/2015
China Takes a Smoother Path to Currency Devaluation
Wall Street Journal 11/25/2015
Peter Morici: Behind the Dollar's Dog Days
BusinessWeek 10/15/2009
Chimerica as economic monster and the 10-10 deal, 10% growth in China and 10% unemployment in the USA.
11/16/2009
Niall Ferguson at Harvard and Moritz Schularick of the Free University of Berlin say giving a peaceful death to this monster is long overdue. Krugman also calls this a world out of balance on the pages of the NYT, November 16, 2009.
Grouped Articles
China Will Keep Growing. Just Ask the Soviets.
New York Times 10/24/2014
Apple Says App Store Sales Rose 50% in 2014
Wall Street Journal 01/09/2015
New York Times 11/16/2009
New York Times 11/16/2009
China and the American Jobs Machine
Wall Street Journal 11/17/2009
Why the Chinese don’t spend : The New Yorker
New Yorker 01/04/2010
Krugman and Prof. Fair at Yale differ on the impact on jobs of a yuan appreciation.
11/16/2009
Prof. Fair's model shows no large increase in American jobs because negative effects offset positive effects leaving a net insignificant impact on jobs.
Linked Articles
The Yin and Yang of Yuan Appreciation
Wall Street Journal 06/01/2010
New York Times 11/16/2009
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