In this two-part interview, Nicholas R. Lardy clarifies assertions made about China's currency during the presidential debate.
Nicholas R. Lardy explains that contrary to assertions in the debate, China has allowed its currency to appreciate 30 percent in the last seven years.
Nicholas R. Lardy says that labeling China a "currency manipulator," as Governor Romney advocates, would have little effect in the absence of Congress passing legislation to impose sanctions on China.
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