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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Gulo who wrote (3497)	12/21/2002 6:09:04 AM
From: GUSTAVE JAEGER	Read Replies (1) of 3536

...when will China allow its currency to float? This is obviously of paramount interest to Asian exporters, all of whom believe that China is subsidizing its exports through an undervalued exchange rate. Some draw the comparison with Japan in the late 1960s and early 1970s when it used a weak exchange rate of around Y350 to the dollar, to become the premier manufacturing economy in the world. This question received a total of 280 responses from treasury officers in corporate Asia. Interestingly, the largest group thought the renminbi would float in 2005 (33.5%). About 46% thought it would happen between 2006 and 2008. Only 11% thought it would happen after 2010. Overall the data tells us that three quarters of Asia's forex experts believe that the Chinese currency will become one of the world's major free-floating currencies by 2008 [Beijing Olympics]. [...] ___________________ Excerpted from: financeasia.com

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