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Strategies & Market Trends : Currents of Currency

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To: Ahda who started this subject	10/22/2003 11:01:54 AM
From: Ahda	Read Replies (1) of 594

quote.bloomberg.com Bush Outmaneuvered by China's Hu on Yuan: William Pesek Jr. Oct. 22 (Bloomberg) -- For U.S. President George W. Bush, the battle was lost before it even began. Bush came here to Asia to lock horns with Chinese President Hu Jintao over Beijing's currency policy. Bush's administration argues China's currency peg to the U.S. dollar is wreaking havoc on the world's biggest economy. This week's Asia-Pacific summit was Bush's chance to confront Hu. Bush was outmaneuvered. Just hours before he met Bush, Hu told Asia-Pacific business leaders China will keep the yuan exchange rate stable. For Bush, it was merely a preview of things to come. A communique issued by leaders of 21 Asia-Pacific Economic Cooperation nations didn't even mention currencies. And that, as they say, is that.

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