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Thursday, October 7, 2010

Chinese Currency Wars

I am afraid of a race to the bottom where everybody is manipulating their currency so they can export out of the current recession.  The Big Mac Index from July 2010 suggests China is under valued against the US by 48%.  A Big Mac costs $1.95 in China, verses $3.73 in the US.

Geithner stokes world pressure on China over currency - Washington Post

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