-- Nobel-Prize winning economist Robert Mundell said U.S. legislation to press China to raise the value of the yuan would be a “disaster” and fail to narrow the trade deficit between the two nations.
“This is not going to help Americans,” Mundell said in a Bloomberg Television interview in Hong Kong. “This is not going to create jobs for Americans. It’s just going to create a disaster.”
...
The euro-dollar fluctuation “is a terrible thing for the world economy,” Mundell said. “We’ve never been in this unstable position in the entire currency history of 3,000 years.” --
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