FORA Economy

Season 2010 Episode 0525

Revaluation of China's Currency: Roach and Wolf Debate

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Revaluation of China's Currency: Roach and Wolf Debate
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The value of China's currency, the renminbi, has jumped to the top of the U.S. foreign policy agenda with China, regularly garnering U.S. headlines, but expert analysis on the issue has been lacking. U.S. leaders disagree about the effects of a revaluation on U.S.-China trade, the creation of jobs, economic recovery and global imbalances, with heated debate on both sides.In this program of the National Committee on U.S.-China Relations, Stephen Roach, chairman of Morgan Stanley Asia, and Martin Wolf, chief economics commentator for the Financial Times, debate whether a large revaluation of China's currency would make the world economy healthier, and what course the U.S. should take on this critical issue. The debate, which took place on May 25, 2010 in New York City, was moderated by National Committee President Stephen Orlins.The National Committee is a nonprofit, nonpartisan educational organization that encourages understanding of China and the United States among citizens of both countries. The National Committee focuses its exchange, educational, and policy programs on international relations, economic development and management, governance and legal affairs, environmental and other global concerns, mass communication, and education administration -- addressing these issues with respect to the People's Republic, Hong Kong SAR and Taiwan.moreless
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