Henry Paulson Wouldn’t Have Done This

By: Francis Cianfrocca (Diary)  |  January 23rd at 06:46 AM  | 

Treasury Secretary-designate Tim Geithner was reported to have mentioned yesterday that he believes the Chinese are “manipulating” their currency, presumably downward against the dollar in an attempt to goose their exports. This issue is going to get a lot of play in the next few months, because China’s mercantilist policy depends on an artificially undervalued currency. Since this causes tremendous imbalances in global capital flows, | Read More »