The US Federal Reserve has exactly the same fear as the People’s Bank of China in 2009. Higher US interest rates would attract higher capital inflows, pushing up the dollar and inducing even higher asset bubbles. Photo: AFP

Why a stronger greenback should worry the US

Andrew Sheng says with the unconventional US monetary policy not working and the long-held-off Fed rate rise inevitable, the incoming president will have to make a strategic call

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The US Federal Reserve has exactly the same fear as the People’s Bank of China in 2009. Higher US interest rates would attract higher capital inflows, pushing up the dollar and inducing even higher asset bubbles. Photo: AFP
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