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Opinion

Biden sends China smoke signals via FX market

World's most important and fraught trade relationship desperately needs a reset

| North America
Janet Yellen in the Oval Office, pictured on Apr. 9: Treasury Secretary is rethinking the game.   © Getty Images

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

If Joe Biden's Treasury Department is playing three-dimensional chess on exchange rates, it might want to share the rules with Asia.

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