China would be “foolish” to let the yuan strengthen, said Steve Hanke, an economics professor at Johns Hopkins University. Failure to do so may lead to a trade war with the U.S., according to Goldman Sachs Group Inc.
“There is no way China is going to abandon” the yuan’s peg to the dollar, said Hanke, who has advised governments from Indonesia to Argentina on currency policy. “China would be foolish to consider revaluing,” he said in an interview in
Washington yesterday.
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