@B_Eichengreen @HyunSongShin Chinese $ulc up c.11%pa since 2005 => uncompetitive hence deflation. Depreciation positive for rebalancing?!
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@B_Eichengreen 3rd poss: they're entering a debt-defaltion spiral & will need to ease monetary policy aggressively, w/ predictable FX effectThanks. Twitter will use this to make your timeline better. UndoUndo
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