There are two views of the future of the US-China economic relationship: one that sees only risk, and another that sees opportunity. Fixating on the renminbi falls into the former category: It misses the rebalancing and reforms already under way in China and deflects America’s focus from addressing its most serious long-term macroeconomic problem – a lack of saving.
关于中美经济关系的未来有两种看法：一种只看到风险，另一种只看到机遇。纠结于人民币贬值属于第一种：它无视中国已经采取的再平衡和改革，也让美国不再关注纠正其最严重的长期宏观经济问题——储蓄不足。