Tharman Shanmugaratnam said on CNN's "Fareed Zakaria GPS" that at the height of the financial panic in 2008, it made sense for China to halt the yuan's appreciation. Now, it was in the country's own best interest to let the currency rise, he said."The exchange rate was an anchor of stability at a time when there was instability all around the place," he said. " Should they now go back to where they were before the crisis, which is the path of gradual appreciation with a more flexible exchange rate allowed? I think that's sensible." Full Story
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