Hi Doug, I thought implied in the above report was the explanation I gave for why US Treasury wants a faster appreciation of yuan vis a vis the dollar. I can't believe that the US Treasury would be exerting such pressure or even pretending to on the behalf of American workers in declining industries, so there must be another reason. And what could that be? An appreciation of the yuan vis a vis the dollar would raise the dollar value of the yuan US corporations are holding, no? US corporations seem ever dependent on profits made abroad. Again this seems implied in Bardhan's research.
Yours, Rakesh