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To: aknahow who wrote (36250)	7/18/2003 10:59:11 AM
From: RealMuLan	Respond to of 74559

I guess I was talking about China side. yeah, I agree, in case this happens, the US will drum it to their "intervention" victory. And China definitely does not want to give that kind of wrong impression<g> so I would say the chance is small.

To: aknahow who wrote (36250)	7/18/2003 11:52:22 AM
From: Ramsey Su	Read Replies (1) \| Respond to of 74559

In this UScentric environment, we seldom pay attention to other countries' desires, problems, rights, etc etc. Furthermore, like the blind Greenspan supporters, facts are generally ignored. Per the Economist, 6/27/03, here are some Merchandise Trade Balances for the latest 12 months in US$: China - $22.2B Brazil $19.3B Britain ($56.8B) Canada $36.2B Germany $124.7B Indonesia $25.5B Japan $95.4B Russia $52.1B USA ($519.7B) EU-11 $87.2B Aside from trades against US, China is hardly in a position to see the RMB rise against other trading partners and competitors. While I see it as inevitable that our policies makers would be doing some serious China bashing in the upcoming months (they always find someone to bash, it is just China's term this time), I still have hopes that they may look at the broader picture before embarrassing too much like Maurice did. Ramsey ps damn, as I type, even Bill Gross is bashing China on cnbc now. better send him this post. <ggggg>

To: aknahow who wrote (36250)	7/18/2003 3:55:41 PM
From: RealMuLan	Read Replies (1) \| Respond to of 74559

Steve Roach and Andy Xie and Joan Zheng from JP Morgan made some voice on CNN site<g> Time 'not right' for yuan float Friday, July 18, 2003 Posted: 0355 GMT (11:55 AM HKT) (CNN) -- As the chorus of criticism grows about the perceived low value of the Chinese currency, leading economists back Beijing's assertion that the time is not yet right to float the yuan. China's yuan is pegged in a band of 8.2760 to 8.2800 to the U.S. dollar, set by the central bank, the People's Bank of China. While floating its currency is a long-term goal of the Chinese government, experts say that is still years away. Responding to comments Wednesday by U.S. Federal Reserve Chairman Alan Greenspan that China eventually will need to float, a Chinese foreign ministry spokesman said the current exchange rate helped China's development and that of Asia as well. Hong Kong-based economists for HSBC, JP Morgan and Morgan Stanley all say that factors such as deflation, weakness in China's financial system and the need for domestic stability more than offset the external pressure for revaluation. ... It said trade liberalization stemming from WTO membership had already cost millions of jobs in China. To maintain stability, China needed to keep its exports and foreign direct investment (FDI) rising, it said. edition.cnn.com