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Prestowitz Says Obama Needs All Asia Currencies Revalued: Video

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Published on Mar 23, 2012

June 22 (Bloomberg) -- Clyde Prestowitz, president of the Washington-based Economic Strategy Institute and a former Commerce Department international trade official, talks with Bloomberg's Rishaad Salamat about China's shift in currency policy and its implications for the U.S. economy. President Barack Obama called China's decision to increase the flexibility of the exchange rate of the yuan "a constructive step that can help safeguard the recovery and contribute to a more balanced global economy." (Source: Bloomberg)

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