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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (79409)3/12/2001 11:34:14 PM
From: TobagoJack  Read Replies (1) of 436258
 
The Yuan is unofficially pegged against the US$, and the HK$ is officially pegged, linked, and backed with the US$.

Should China want to be mischievious, they can (a) sell their short term US treasuries, (b) say nice things to Taiwan, so that island can sell their ST US treasuries, (c) encourage HK to peg/link/back HK$ to basket of commodities, and making sure (d) the basket includes plenty of Russian platinum and palladium horded into the vaults of Bank Of China HK branch.

China is not mischivious, but very commercial, probably figuring the US Dollar will fall on its own weight, taking the Yuan and HK$ with it, undercutting Japan and rest of Asian manufacturing, without causing a fuss on CNN.
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