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Posted by on Feb 22, 2010 in Economy | 10 comments

Must Read Explanation Of China-US Trade Imbalance

Michael Pettis is by far the best trade theorist I’ve come across and is supremely prescient and logical. He has changed my thinking a ton since I’ve started reading him, but his latest post is perhaps the most world altering for me. It explains what China’s currency peg really means, and why their massive reserves won’t protect them from a financial crisis.