Slider, would you please weigh in on the US$/Chinese Yuan currency cross rate??
I think this issue is #1 of prime importance for investors!
news.yahoo.com
......."China's growing trade gap has fueled demands by Washington and other trading partners for Beijing to raise the value of its currency, the yuan. That would make Chinese goods more expensive for foreign buyers and might restrain surging exports.
Four U.S. senators — Charles Schumer, D-N.Y., Lindsey Graham, R-S.C., Max Baucus, D-Montana and Charles Grassley, R-Iowa — are crafting new legislation that would apply pressure on China, in the form of sanctions on imports, according to Schumer spokesman Eric Schultz.
But one economist said Treasury Secretary Henry Paulson may be able to convince China to act even without further pressure from Congress.
"The Chinese now very timidly and gradually are rebalancing their currency," said Irwin Stelzer, director of economic policy at the Hudson Institute. That is because "they grasp that they can't control inflation or overinvestment in their economy," Stelzer said."
Rogue |
