| Christine Lagarde's people say China's currency is no longer undervalued. Jacob Lew's argue it still is. There's a lot at stake in the debate: The yuan can't gain status as a global currency reserve if China is thought to be manipulating its value. So who should we believe, the head of the International Monetary Fund or the U.S. Treasury Secretary?
It's worth asking Ben Bernanke. Now that the former Federal Reserve chairman is in the private sector, he can say what he really thinks -- and, as he pointed out in a recent speech in Seoul, it's not wise to ignore political factors when managing the rise of the Chinese economy.......................................Full Article: Source
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