
Red Arctic?
Elizabeth Buchanan
₹3,931

by Duck-Koo Chung, Barry Eichengreen
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East Asian exchange rates have become a global flashpoint. U.S. policymakers blame artificially low Asian currency values for global imbalances, including America's ballooning current account deficit. The solution, they argue, lies in some combination of greater exchange rate flexibility and the appreciation of Asian currencies against the dollar.
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