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To: patron_anejo_por_favor who wrote (250538)	7/16/2003 4:25:38 PM
From: Giordano Bruno	Read Replies (1) \| Respond to of 436258

So far it is getting sold.

To: patron_anejo_por_favor who wrote (250538)	7/16/2003 4:59:23 PM
From: mishedlo	Read Replies (2) \| Respond to of 436258

Look at this! Greenspan warns China on currency peg news.ft.com Alan Greenspan, chairman of the US Federal Reserve, on Wednesday warned that the Chinese authorities could not continue to peg their currency without endangering their domestic economy. The comments, in front of a congressional committee, add to a chorus of concern among policymakers about China's insistence on fixing the renminbi against the dollar. Mr Greenspan suggested that the renminbi would have to be allowed to float, saying the current campaign of intervention to support it was unsustainable. "It has required them to. . . be very heavy purchasers of US dollar-denominated assets," Mr Greenspan said. "At some point they will no longer be able to do that, because it will create an inability of their monetary system to function well." Asked directly if the authorities should let the renminbi float, Mr Greenspan said: "I think that from an economic point of view, it's going to be increasingly evident that that is what is going to have to happen if the existing cost structures around the world remain as they are. And I think the Chinese are sufficiently sophisticated to understand that."