China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (183)	8/7/2003 8:11:44 PM
From: RealMuLan	Read Replies (1) of 6370

Economist: China right not to float yuan By Michelle Kuan, 9.51pm China has made the right decision by not floating the yuan or renminbi, which is currently pegged to the US dollar at around 8.28, says Asia Pacific Foundation of Canada vice president and chief economist Woo Yuen Pau. Woo said if China loosens its grip now on the yuan, the move would create deflation and deteriorate the quality of assets in its banking system and increase the risk to the country's financial system. "I think they are being rational and are doing the right things," he said at the 17th Asia-Pacific Roundtable in Kuala Lumpur on Aug 7. theedgedaily.com

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