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Gold/Mining/Energy : Gold Price Monitor

GDXJ 87.56

-4.9%

4:00 PM EST

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To: Alex who wrote (39095)	8/16/1999 8:02:00 AM
From: hunchback	Read Replies (1) of 116752

OT-China Talks About Devaluing the Yuan, Months After They Did It 0155 GMT, 990816 To the extent that anyone is discussing Chinese economics on the weekend the Chinese were threatening military action against Taiwan, the discussion has been of devaluation. The official Chinese People's Daily very publicly asserted that, while a devaluation of the yuan was not called for now, "an appropriate adjustment in the exchange rate may after all be a policy option if imports significantly exceed exports and push up a trade deficit." The article did not specify what that trigger point would be – which is reasonable, as it hardly matters. The yuan was devalued many months ago. stratfor.com : ) hunchback

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