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Their wordsMy view is that an appreciation of China's REER is very much to be desired, but the real (haha) way to get there is through higher inflation domestically, and that means different macro policies.
Our reading
Complaining about China's trade surpluses and excess capacity has not worked and will not work.
Their wordsI think complaining about trade surpluses and excess capacity has not worked, and is not going to work.
Their wordsPolicy decisions have condemned a generation of Chinese youth to widespread under- and un-employment.
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