Greenspan informs U.S. Congress that revaluing the renminbi will not increase manufacturing activity or jobs in the United State.
Listen to the entire testimony to the Senate Panel on U.S.-China Economic Relations. It was a spirited debate, with Greenspan and Snow face to face in the ring. One, and only one, of them at his rhetorical finest.
Several senators jumped on the pile, as they are wont to do. One performed an execrable impression of Mike Tyson chewing on Holyfield's ear. (Holyfield won, nonetheless.) Worth your time, if only for entertainment value.
