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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Jim Willie CB who wrote (3752)	12/22/2003 1:50:40 PM
From: RealMuLan	Read Replies (2) of 110194

China is considering tying the yuan to a group of foreign currencies and severing its link to the US dollar, the state press reports. news.bbc.co.uk BEIJING -- China's central bank is quietly moving ahead with a plan to peg the yuan to a basket of 10 currencies, instead of the US dollar alone, state press reported Monday. … According to local statistics, China's major trade partners in 2002 were the US, Japan, Hong Kong, the Euro zone countries, followed by Indonesia, Malaysia, Singapore, Thailand, South Korea and Taiwan. They accounted for more than 89 percent of China's total trade volume with the world. As such, the currencies in the basket would be given a weighting according to their relative importance in terms of trade and investment. … Message 19621052

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