Currency Manipulation

Should the United States Try to Weaken the Dollar?

By Michael Klein and Maurice Obstfeld·August 5, 2019
The Fletcher School, Tufts University and University of California, Berkeley

The Issue:

U.S. political leaders from President Trump to Democratic presidential candidate Elizabeth Warren see the dollar’s current strength as a drag on the American economy. A strong dollar makes U.S. goods more expensive in foreign markets while at the same time making it more difficult for U.S. producers

Is China Weakening the Yuan to Fight U.S. Tariffs? (UPDATE)

By Michael Klein·July 11, 2019
Fletcher School, Tufts University

The Issue:

The yuan has declined in value against the dollar by about 9 percent since the Spring of 2018. A weaker yuan tends to make Chinese goods cheaper in the United States and would partially offset the tariffs that the Trump administration is imposing on Chinese imports. Treasury Secretary Steven Mnuchin

Is China a Currency Manipulator?

By Michael Klein·January 20, 2017
Fletcher School, Tufts University

The Issue:

Donald Trump has said that, upon taking office, he will declare China a currency manipulator. Many Americans, understandably angered by factory closings and job loss seemingly due to Chinese competition, appear to support this. An artificially cheap yuan enables Chinese exporters to unfairly undercut ...
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