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Re: Wolf on Renminbi Flexibility



On Thu, 11 Dec 2003 13:16:55 -0500, Michael Pollak
wrote:

>
> [I thought this was a surprising good discussion that
> covered all the
> bases.]
>

Interesting though, that the general principle that in
a fixed rate system the burden of adjustment falls on
the deficit country, is completely ignored; ie the
entire problem is framed as a question about what
*China* will do ...

dd



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