It is clear that the G-7 will come in with further intervention. They have made a commitment now and they must follow through.
More Quotes from Fred Bergsten:
I think it's a matter of a few years.Fred Bergsten
It is ridiculous not to have China and India ... on our side of the table in the energy policy debate internationally.
Fred Bergsten
We get the strong sense that the degree of frustration with China is accelerating very sharply and is not likely to be assuaged by a few orders that likely would have been placed anyway.
Fred Bergsten
It's a big mistake not to label China if the U.S. law has any meaning. They are still intervening massively to keep their currency from rising. I don't see how you can not define that as manipulation.
Fred Bergsten
Hence China's currency policy has taken virtually all of Asia out of the international adjustment process.
Fred Bergsten
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