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 (774)	9/18/2003 4:08:12 PM
From: RealMuLan	Read Replies (1) of 6370

IMF is really good at one thing, that is double talk. Just a couple days ago, they supported China not to revalue its currency, and now they changed their idea. What a joke! IMF urges China, Asia to let currencies appreciate Posted: 5:28 PM \| Sept. 18, 2003 DUBAI -- The International Monetary Fund (IMF) on Thursday urged China and other Asian countries to allow their currencies to appreciate against the dollar in order to spare the global economy "a serious problem" in the medium term. IMF chief economist Kenneth Rogoff told reporters at the fund's meeting here that a failure to allow the currencies to rise could have a potentially devastating effect on Europe if the colossal US current account deficit eventually causes a plunge in the dollar. "We view the (US) current account as a medium-term problem, not in the next two months, not in the next ten years, somewhere in between, two to four years, three to five years," he said. money.inq7.net

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