Sankar, on china not devaluating the Yuan, you reposted:
<< China to keep forex market stable but no yuan devaluation: Shen
Guofang >>
FWIW, Mobius said during the presentation in Zurich from before x-mas that he's on Red Alert whenever he hears an official say "Our currency will not be devaluated."
He went on to say that his opinion until some days ago was that, indeed, the Yuan will not be devaluated, but just before coming to Zurich, he heard above ominous statement from one of his sources... So this is why he was not so sure anymore about China. Of course, just an opinion. Let's see then.
Still FWIW, Moody's in their conference of some days ago, also said that for now China is still fine, but there is this potential threat of devaluation to keep chinese exports competitive. Therefore, they also had rather little confidence in China for the moment.
Thomas |
