January 8, 2013 2:12PM 

# Foreign “Currency Manipulation” Does Not Warrant Washington’s Attention 

By [Daniel J. Ikenson](https://www.cato.org/people/daniel-j-ikenson) 

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In a *Wall Street Journal* oped today, Former Council of Economic Advisors chairman Ed Lazear [pokes some big holes](http://online.wsj.com/article/SB10001424127887323320404578213203581231448.html) in the theory that Chinese currency manipulation explains that country’s big trade surplus, contradicting the central argument of a recent [paper](http://www.iie.com/publications/interstitial.cfm?ResearchID=2302) from the Peterson Institute.

I concur with Lazear and [offer my own critique](http://www.forbes.com/sites/danikenson/2013/01/08/foreign-currency-manipulation-does-not-warrant-washingtons-attention/) of the Peterson paper on *Forbes*, today.

##### Related Tags 

[Trade Policy](https://www.cato.org/trade-policy), [Herbert A. Stiefel Center for Trade Policy Studies](https://www.cato.org/herbert-stiefel-center-trade-policy-studies) 

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