The Business Times

Brad Setser and Mark Sobel

BRAD SETSER IS THE WHITNEY SHEPARDSON SENIOR FELLOW AT THE COUNCIL ON FOREIGN RELATIONS. MARK SOBEL IS US CHAIR OF OMFIF. BOTH PREVIOUSLY SERVED AT THE US TREASURY.

A rising renminbi could boost real incomes, and thus consumption and services, especially if a more active fiscal policy were used as a reinforcing tool to underpin consumer demand, domestic activity and limit deflationary pressures.

It’s time for China to let the renminbi appreciate sharply

The imperative is now far stronger than a few months ago

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