In the absence of an expansionist policy by the European Central Bank, it makes no sense to blame any part of Europe's economic challenges on the artificially low value of China's yuan, according to The Economist. A joint study by the Inter-American Development Bank and the University of Cambridge shows that a rising yuan probably would put at risk the shaky recovery in the U.S. and Europe. "It's difficult to foist responsibility for salvaging European recovery on China," The Economist notes.

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