Agreed. China would postpone, as much as Japan did, to revalue their currency.
Japan only ravalued in 1985, 39 years after they started on the track to development. Since China starte din 1978 we will have to wait at least 2017.
The pace of the world is faster today, but China is MUCH bigger than Japan so no revaluation on sight. That if the script plays as per Jay.
But I am ofte opinion that every country that have to develop, is already developed. The ones that haven't, won't.
I know it sounds pessimist and it goes against human perennial optimism. But look around. While Japan distributed some of its development across Asia-Pacific, and improve countries like, Taiwan, S. Korea etc, the China raise is TAKING that development away from the, since all those countries (Thailand, Philipinnes, Malaysia, Singapore, anyone, have to compete with China. |
