While rapid currency appreciation would certainly benefit the Chinese economy in the longer term, it is likely to be very disruptive in the short term.
Unfortunately, the longer China waits, the more dependent the economy becomes on manufacturing, and so the more disruptive the adjustment.
While rapid currency appreciation would certainly benefit the Chinese economy in the longer term, it is likely to be very disruptive in the short term.
Unfortunately, the longer China waits, the more dependent the economy becomes on manufacturing, and so the more disruptive the adjustment.