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Strategies & Market Trends : Asia Forum

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To: Rational who wrote (517)	1/6/1998 8:12:00 PM
From: Stitch	Read Replies (1) of 9980

Sankar, Thanks for the post. <<China will take steps to ensure its foreign exchange market remains stable but will not devalue the yuan, foreign ministry spokesman Shen Guofang said.>> I suspect the comments from Shen will cause some small sense of relief among the powers in Asia that are wrestling with their economic problems. Competition from China played a non-trivial role in the growing of an account defecit among these countries. A devalued yuan may have sharpened that competition just when SE Asia needed to reemphathize export growth.

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