This Letter to the Editor contests the opinion that emerging-market economies should adopt internationally accepted currencies, such as the US dollar or the euro.

The sooner China moves away from its dollar peg, thebetter toavoid yet another hard landing that would now be particularly damaging to China's fragile banking system.

China's ultimate objective must be to float the currency to allow it to find its own level in a world of capital convertibility.

There are solid ways to move forward with high-speed rail in the United States, but a new line between San Francisco and Los Angeles is not among them.

The collapse of the Papandreou government may undo European efforts to restructure debt and hold the union together.

Lachman pushes for a floating exchange rate in theGulf countries.

Calling on Europe to help save the Latvian currency peg is all too reminiscent of similar calls in 2000 to save the Argentine Convertibility Plan.

Desmond Lachman's response to Daniel Gros's article, "Portugal is Delaying the Pain it Knows is Inevitable."