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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: ild who wrote (31521)	6/6/2005 3:13:37 AM
From: mishedlo	Read Replies (2) of 116555

China MoF official says conditions not right for floating yuan Monday, June 6, 2005 6:24:19 AM afxpress.com SHANGHAI (AFX) - Conditions are not right for floating the yuan, since China has not yet established an effective risk management system, China Business News reported, citing Lou Jiwei, deputy governor of Ministry of Finance US and European countries calling for a freeing of the yuan peg as early as possible have developed financial systems and do not need to worry about systemic risks associated with such a move, the newspaper reported, citing Lou China's financial markets provide few hedge instruments for the exchange rate, and Chinese companies that seldom hedge their foreign exposure will bear the cost of exchange rate fluctuations if the yuan regime is reformed, Lou said

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