{"id":449997,"date":"2010-03-19T19:18:40","date_gmt":"2010-03-19T23:18:40","guid":{"rendered":"tag:www.economist.com,21005492"},"modified":"2010-03-19T19:18:40","modified_gmt":"2010-03-19T23:18:40","slug":"americas-game","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/449997","title":{"rendered":"America’s game"},"content":{"rendered":"

HERE<\/a>‘S something ridiculous:<\/p>\n

\n

Morgan Stanley Asia Chairman Stephen Roach said that Paul Krugman\u2019s call to push China to allow a stronger yuan is \u201cvery bad\u201d advice and that increased Chinese spending is a better way of reducing trade imbalances.<\/p>\n

\u201cWe should take out the baseball bat on Paul Krugman — I mean I think that the advice is completely wrong,\u201d Roach said in an Bloomberg Television interview in Beijing when asked about Krugman\u2019s call, characterized as akin to taking a baseball bat to China. \u201cWe\u2019re lashing out at China rather than tending to our own business,\u201d which is raising U.S. savings, Roach said.<\/p>\n<\/blockquote>\n

Two points. First, Mr Krugman’s advice to China<\/em> isn’t wrong; it’s right. China’s currency is undervalued, and I think everyone (including the Chinese, but evidently excluding Mr Roach), thinks that an orderly appreciation of the renminbi would be a net benefit to China. Where I disagree with Mr Krugman is in his advice to America<\/em>. The currency issue isn’t a big enough problem to be worth the risks associated with an aggressive American push to get China to revalue.<\/p>\n

Secondly, I think it’s very inappropriate to wish violence on anyone, and particularly on a very good economist who is just arguing for what he believes. That’s a poor way to conduct discourse, though it’s probably a good way to get invited back on a television show.<\/p>\n","protected":false},"excerpt":{"rendered":"

HERE‘S something ridiculous: Morgan Stanley Asia Chairman Stephen Roach said that Paul Krugman\u2019s call to push China to allow a stronger yuan is \u201cvery bad\u201d advice and that increased Chinese spending is a better way of reducing trade imbalances. \u201cWe should take out the baseball bat on Paul Krugman — I mean I think that […]<\/p>\n","protected":false},"author":4534,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-449997","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/449997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4534"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=449997"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/449997\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=449997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=449997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=449997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}