Original title: China’s Yuan Is ‘Incredibly Weak’ for Fair Trade, Setser Says
China should allow the yuan to strengthen against its key partners’ currencies and well beyond 7 per dollar to foster fair trade, according to Brad Setser , senior fellow at the Council on Foreign Relations. The yuan is “incredibly weak” even as the People’s Bank of China recently nudged it higher, Setser, a former US Treasury official, said. It could rise about 15% on a trade-weighed basis to make up for its depreciation over the last few years, he said in an interview.