Stephen Roach: “I think we should take out the baseball bat on Paul Krugman"

We pointed out earlier that Stephen Roach went on Bloomberg TV today with some strong words on Paul Krugman’s analysis of US-China relations.

“I think we should take out the baseball bat on Paul Krugman,” Roach said.

“I think the advice is completely wrong. The US has had a conscious policy here of maintaining, quote, a strong and stable dollar. China is saying basically the same thing in terms of its stable currency. Isn’t it the height of hypocrisy for America to articulate to articulate a particular position in its currency but the Chinese are not allowed to do that, especially since they as a developing economy – with an embryonic financial system – need a currency anchor probably a lot more than a sophisticated, quote unquote, economies like the United States.”

Here’s the video.

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