Blurb: It is necessary for a new improved world order that the Chinese yuan substantially appreciate over the next few years. This policy will not be sufficient in solving all the world’s problems.

As the world prepares for the G-20 meetings in November, the prospect of a currency war is at center stage. The two protagonists, the nice guys who brought you the Great Global Recession of 2008-9, are now squaring off for another battle royale. In one corner is David, the erstwhile poor country China, which through dint of hard work, frugality, savings and investment has uplifted itself from deep poverty. In the other corner is Goliath, grown fat by over-consumption and one who believes that China is playing unfair with exchange rates. This US stand naturally arouses latent anti-American sentiments around the world. Surely Golaith should be told where to get off. But is that so clear cut?