This is the role of exchange rates in economic development

A labourer builds components of wind turbines at a wind power equipment factory in Zouping, Shandong province May 18, 2011. With profitable wind and hydropower businesses included, overall power generation losses narrowed to 6 billion yuan, Xue Jing, director of the statistics and information department under the China Electricity Council, said on the sidelines of a conference in Beijing on Tuesday. Picture taken May 18, 2011. REUTERS/China Daily (CHINA - Tags: ENVIRONMENT ENERGY BUSINESS IMAGES OF THE DAY) CHINA OUT. NO COMMERCIAL OR EDITORIAL SALES IN CHINA - RTR2MLSD

Image: REUTERS/China Daily

Martin Guzman
Jose Antonio Ocampo
Professor of Development Practice in International and Public Affairs, Columbia University
Joseph E. Stiglitz
Professor, Columbia University
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