Jonathan AdamsApril 13, 2010 05:32Updated May 30, 2010 12:28
TAIPEI, Taiwan — To get the scoop on China's currency, follow the "hot" money.
So says Shanghai-based independent economist Andy Xie, a highly regarded maverick who used to be Morgan Stanley's chief Asia economist.
Economists like Xie are locked in a fierce debate over the simple question: is the Chinese currency too cheap?
"Hot money" — or speculative foreign money — is the key to the answer, he says.