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October 23, 2009

Wanted: more expensive Chinese money

Of course, the fervent wish of Paul Krugman, as well as Treasury Secretary Tim Geithner, Federal Reserve Chairman Ben Bernanke and many others, for Beijing to re-value the yuan vs. the dollar, ain’t likely right now. Unless China can be persuaded this is a way to mitigate its concern about the American deficit and its dollar holdings.

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