Cast of Villains: Chinese Currency Manipulation

Easy liquidity: fault of under-valuation of dollar, or of the yuan? Is it the monetary policies of the U.S. or of China that fueled the housing boom?

WSJ, Jan 26th, 2009, says it’s the US. But another conservative rag, the WaPo, has a columnist complaining: “The mortgage bubble reached its craziest extremes in 2005-07, when China was flooding the world with cheap capital.”

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