Roach vs Krugman Over China Currency Push

Stephen Roach, chairman of Morgan Stanley Asia Ltd., talks with Bloomberg’s Susan Li and Paul Gordon from Beijing about the U.S. calls for a stronger yuan. China is conducting stress tests to gauge the effect of yuan appreciation on companies, a sign the government may be preparing for policy change even as it rebuffs foreign criticism of its 20-month dollar peg

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Morgan Stanley Asia Ltd. Chairman Stephen Roach says Paul Krugmans call to push China to allow a stronger yuan is “very bad” advice and that increased Chinese spending is a better way of reducing trade imbalances.

(Source: Bloomberg)

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