Indian exports benefit if China lets its currency appreciate
It is not always that Stephen Roach, the chairman of Morgan Stanley Asia wants to batter people who don’t agree with him. But Paul Krugman’s remark that China should be forced by the US to appreciate the renminbi is something that has not gone well with Roach. Roach argues that China has a savings surplus but doesn’t feel that all that can be attributed to the depressed renminbi, while Krugman argues that the currency gives China an unfair advantage.
(This story appears in the 30 April, 2010 issue of Forbes India. To visit our Archives, click here.)