China’s yuan peg is costing us 1.4 million jobs, Paul Krugman says. And protectionism is a perfectly reasonable response.
NYT: …China has become a major financial and trade power. But it doesn’t act like other big economies. Instead, it follows a mercantilist policy, keeping its trade surplus artificially high. And in today’s depressed world, that policy is, to put it bluntly, predatory.
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