Nu even niet zeuren over goedkope yuan

Dat schrijft econoom Greg Mankiw in de NYT. Minister van Financien Tim Geithner klaagde over de oneerlijke concurrentie van de Chinezen. Domdomdom.

... So when the Treasury secretary complains about the undervalued yuan, his message to the Chinese boils down to this: Stop lending us money.

Not surprisingly, after Mr. Geithner made his remarks about the Chinese currency, the prices of Treasuries fell and yields rose. If China took him seriously, long-term interest rates would rise even more. As the United States embarks on a path of unusually large budget deficits, the nation’s chief financial officer should pause and think carefully before turning up the heat on one of its biggest creditors.