Dr. Bernanke Gets a Phone Call

Zhou Xiaochuan is the Governor of the People’s Bank of China. Imagine that the following phone call were to take place.

Zhou: Hello. Dr. Bernanke?

Bernanke: Yes.

Zhou: I wanted to let you know about the decision that our board has taken, after consulting with the Premier and the Politburo’s Standing Committee. We hope you are sitting down.

Bernanke: I get it. A little Oriental humor.

Zhou: You could say that. 

Dr. Ben's decision to weaken the dollar is sure to have gotten the attention of China.