“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/

“The increase in the household saving rate reduces America’s need for foreign funds to finance its business investment and residential construction. Taken by itself, today’s $750 billion annual rate of household saving could replace that amount in capital inflows from the rest of the world.”

Martin Feldstein, a member of the White House Economic Recovery Advisory Board and the Belfer Center’s board of directors, wrote “U.S. saving rate and dollar’s future,” which the Korea Herald published on July 29, 2009.

For the full oped, go to: http://belfercenter.ksg.harvard.edu/publication/19487/

“It is unthinkable that the global economic system will continue indefinitely to allow the U.S. to import more goods and services than it exports. At some point, the U.S. will need to start repaying the enormous amount that it has received from the rest of the world. To do so, the U.S. will need a trade surplus.”

Martin Feldstein, member of the Belfer Center’s Board of Directors, wrote “What is the greenback’s sustainable value?” which was published in The Japan Times on July 26, 2008.

For the full text, go to:
http://belfercenter.ksg.harvard.edu/publication/18458/what_is_the_greenbacks_sustainable_value.html