CHINA'S CURRENCY MANIPULATION: A POLICY DEBATE

China continues to confound America. Since its inception six years ago, the Strategic and Economic Dialogue between the US and China has served the very useful purpose of elevating one of the world's most important economic relationships to the high level it deserves. Much has been accomplished, but further progress cannot be taken for granted, particularly if a fixation on the currency issue continues to dominate the economic agenda between the US and China. Here, Roach argues that Beijing's currency is not the villain it's often made out to be and that America should start seeing its relationship with China as an opportunity rather than a threat.