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… as detailed by the Wall Street Jounral’s Ken Brown in 60 seconds.
This appears to be much ado about virtually nothing, at least according
to Paul Krugman, though Neil Irwin disagrees,
comparing the move to the U.S. dollar a century ago.
My take on it is that the Chinese should pat themselves on the back only
briefly before getting back to that pesky problem of having the world’s
biggest un-popped credit bubble.
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