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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (19350)12/22/2004 3:37:37 PM
From: RealMuLan  Read Replies (1) of 116555
 
[They have been making this type of forecast for as long as I can remember<g>]--"China Yuan's Gain Would Mean `Big Bonus' for Lenovo, Sinochem"

Dec. 23 (Bloomberg) -- China's Lenovo Group Ltd. may save tens of millions of dollars from an expected gain in the Chinese yuan next year when it completes its $1.25 billion purchase of International Business Machines Corp.'s personal-computer unit, the biggest-ever overseas acquisition by a Chinese company.

China will loosen the yuan's decade-old dollar peg by mid- 2005, letting the currency rise as much as 10 percent, according to forecasts from Merrill Lynch & Co., JPMorgan Chase & Co. and Bank of America Corp. One result: Buyers such as Beijing-based Lenovo, China's No. 1 computer maker, will pay less for overseas assets, advancing China's goal of building global companies.
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quote.bloomberg.com
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