“China’s policy of keeping the renminbi weak means that the US dollar must decline more rapidly against the euro, yen and other currencies to achieve the same overall trade-weighted fall of the dollar. China’s weak renminbi policy therefore not only prevents remedying China’s large current account surplus but also reduces Europe’s exports.”

Martin Feldstein, a member of the White House Economic Recovery Advisory Board and the Belfer Center’s board of directors, wrote “Why the Renminbi has to Rise to Address Imbalances,” which the Financial Times published on October 30, 2009

For the full oped, go to: http://belfercenter.org/publication/19665/

Feldstein also wrote “The Global Impact of America’s Health Care Debate,” which the Daily News Egypt published.

For the full oped, go to: http://belfercenter.ksg.harvard.edu/publication/19666/

Tags: China, dollar, economy, renminbi, US

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