Dr. Albert Keidel
{
"authors": [
"Albert Keidel"
],
"type": "legacyinthemedia",
"centerAffiliationAll": "dc",
"centers": [
"Carnegie Endowment for International Peace"
],
"collections": [],
"englishNewsletterAll": "asia",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie Endowment for International Peace",
"programAffiliation": "AP",
"programs": [
"Asia"
],
"projects": [],
"regions": [
"North America",
"United States",
"East Asia",
"China"
],
"topics": [
"Economy",
"Security",
"Military",
"Foreign Policy"
]
}Source: Getty
China and the U.S. Economy
Despite Treasury Tim Geitner's recent comments that China is manipulating its currency, it is difficult to assess China's monetary policies because its economy is in such flux.
Source: Washington Journal

In six months, the Treasury Department of Treasury will report which countries are unfairly manipulating their currencies to achieve trade benefits. Keidel explained that it is difficult to assess whether China is manipulating the yuan since its economy is in such flux right now. He argued, furthermore, that it is difficult, if not impossible, to identify what the "proper" dollar-yuan exchange rate should be; he noted that while the yuan has indeed appreciated with respect to the dollar, it has depreciated compared to the euro.
Keidel expressed confidence that the Obama administration will continue the Strategic Economic Dialogue that Hank Paulson stewarded under the Bush administration, arguing that that dialogue has opened up high-level exchanges between American personnel and their appropriate counterparts in Beijing.
About the Author
Former Senior Associate, China Program
Keidel served as acting director and deputy director for the Office of East Asian Nations at the U.S. Department of the Treasury. Before joining Treasury in 2001, he covered economic trends, system reforms, poverty, and country risk as a senior economist in the World Bank office in Beijing.
- As China's Exports Drop, Can Domestic Demand Drive Growth?Article
- China’s Fourth Quarter 2008 Statistical RecordArticle
Dr. Albert Keidel
Recent Work
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
More Work from Carnegie Endowment for International Peace
- Is China’s High-Quality Investment Output Economically Viable?Commentary
China’s rapid technological progress and its first-rate infrastructure are often cited as refuting the claim that China has been systematically overinvesting in non-productive projects for many years. In fact, as the logic of overinvestment and the many historical precedents show, the former is all-too-often consistent with the latter.
Michael Pettis
- The Much-Touted Middle Corridor Transport Route Could Prove a Dead EndCommentary
For the Middle Corridor to fulfill its promises, one of these routes must become scalable. At present, neither is.
Friedrich Conradi
- The Iran War Shows the Limits of U.S. PowerArticle
If Washington cannot adapt to the ongoing transformations of a multipolar world, its superiority will become a liability.
Amr Hamzawy
- Where is the Groundwork for Lebanon’s Negotiations With Israel?Commentary
A prerequisite of serious talks is that the country’s leadership consolidates majority national support for such a process.
Michael Young
- The EU Equivocating on Turkey Is Bad GeopoliticsCommentary
Following Ursula von der Leyen’s gaffe equating Turkey to Russia and China, relations with Ankara risk deteriorating even further. Without better, more consistent diplomatic messaging, how can the EU pretend to be a geopolitical power?
Sinan Ülgen