Financial Times; Aug 26, 2003
COMMENT: A modest proposal for China's renminbi
By Morris Goldstein and Nicholas Lardy
The current debate on the renminbi exchange rate is appropriate given
China's role as a leading economic and trading power. But the debate has
become so politicised that crucial
Would the Chinese have a chance at succeeding if they took some of their
dollar inflow and invested it elsewhere? I know that the Japanese did not
do so very well, buying overpriced US real estate.
Also, could they take care of the hot money problem by instituting a
waiting time before money
