Commentary China has always been hoping to avoid the mistakes committed by its predecessors. A decade ago when China was forced by the U.S. to appreciate its currency value, China refused to do so aggressively. From 1985 to 1987, USD/JPY fell from 260 to 120, or the Japanese Yen appreciated by more than double. Chinese…

You bought the biggest house they said you could qualify for, taking advantage of low rates and creative financing. Who knew you could afford such a great home? But now, several years later, your low-interest rate has disappeared and the adjustable-rate mortgage that seemed like a good idea keeps pushing your payments higher. Or perhaps…