Главный экономист Citi-банка о повышении конкурентоспособности путем занижения курса национальной валюты: "это игра для лузеров. В итоге так и становятся Зимбабве.. не стоит переживать о Китайских манипуляциях курсом юаня" (можно сказать ответ Хазину и ко).
"No, I think to pursue competitiveness policies by manipulating or steering down the nominal values of the exchange rate is a loser's game. In the limit, it gets you to Zimbabwe, which didn't exactly become a hub of competitiveness. It's a gross misalignment for historical reasons…I think we shouldn't get too upset about the Chinese manipulating their currency. There's also no reason to attach great importance to the ability of the U.S. in manipulating its currency. Both are second order instruments."
"No, I think to pursue competitiveness policies by manipulating or steering down the nominal values of the exchange rate is a loser's game. In the limit, it gets you to Zimbabwe, which didn't exactly become a hub of competitiveness. It's a gross misalignment for historical reasons…I think we shouldn't get too upset about the Chinese manipulating their currency. There's also no reason to attach great importance to the ability of the U.S. in manipulating its currency. Both are second order instruments."
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