Krugman: China Is 'Bad Guy' in Currency War
China is to blame for growing currency tensions as the cheap yuan is contributing to global trade imbalances, says Nobel prize-winning economist Paul Krugman.
"China is behaving badly… The U.S. is loosening monetary policy with the side consequence of a weaker dollar, (while) China is actually pursuing policy tightening to offset the inflationary impacts of an artificially weak renminbi so… China is really the bad guy in this," the Princeton University professor told CNBC Thursday.
Posted on October 14, 2010
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