CAMBRIDGE: The growls between China and Taiwan have grabbed the world's attention recently, but China's economy is poised to retake center stage. World Bank chief economist, Joseph Stiglitz has called on China to pursue a beggar-thy-neighbor strategy, never mind that China is a trade surplus country, has large reserves, little debt, and grows at more than 7%. Is Mr. Stiglitz's devaluation the answer to China's current troubles and is it a good idea for the world economy? No.
CAMBRIDGE: The growls between China and Taiwan have grabbed the world's attention recently, but China's economy is poised to retake center stage. World Bank chief economist, Joseph Stiglitz has called on China to pursue a beggar-thy-neighbor strategy, never mind that China is a trade surplus country, has large reserves, little debt, and grows at more than 7%. Is Mr. Stiglitz's devaluation the answer to China's current troubles and is it a good idea for the world economy? No.