<< Wonder why China won't let RMB free float>> That's the crux of the matter. Not revaluing the RMB straight away, was what made me step back, take the whole construction, turn it around and give it a hard look.
I don't wonder anymore. Logically, the RMB should have been revalued. The US even removed the pressure not to be seen as pressuring China to revalue. It wasn't.
The I looked to the statement: <<"Rick Holmes, a metals trader at Mitsui Australia, though generally bullish, says that a significant, but unknowable, portion of Chinese commodity buying is for arbitrage and speculation rather than physical demand.">>
Message 19827002
Oh, oh! Two circuit breakers tripped over in Elmat;s brain. That was Feb. 19th. Then, there was no talk of slow down, take a breath pause, or course correction.
The fact that the RMB is not revalued is a dead give away. China run has slowed down, and I am telling relatively speaking, and will grind to a halt. Why it hit the head on the ceiling?
We will know "when the eggs are sizzling" as we say back. |
