Question: Compare two statements about exchange rates that Henry Paulson, Treasury secretary under President Bush, made in 2007: (1) A strong dollar is in our nations
Compare two statements about exchange rates that Henry Paulson, Treasury secretary under President Bush, made in 2007: (1) “A strong dollar is in our nation’s interest." (2) “The currency [China’s Yuan] needs to appreciate, and it needs to appreciate faster." Are the two statements consistent with one another? Why might the same official make both statements?
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Appreciation of the Chinese Yuan means that the Yuan is worth more measured in dollars F... View full answer
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