麻豆约拍

For decades now, angry voices in Washington and beyond have claimed that China achieved its extraordinary economic expansion by cheating.

They say the country has kept the value of its currency, the yuan, artificially low to make Chinese exports more competitive.

Successive White House administrations have said that has cost American jobs and growth, and distorted the global economy.

Recently though Beijing has been allowing the yuan to rise. And now, the International Monetary Fund is believed to be on the verge of declaring the Chinese currency fairly valued.

Mike Johnson asked the Hudson Institute economist Irwin Stelzer how significant such a declaration would be.