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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (2244)	12/24/2003 1:21:48 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China considers dropping yuan-dollar peg CHINA is considering severing its currency’s link with the US dollar and pegging it to a group of foreign currencies, according to reports in Chinese state media. US officials have repeatedly said the currency peg causes problems for the US economy because it ensures the yuan stays artificially low. The trade deficit between the two is $120bn this year, a level US officials believe is hurting US jobs. However, until now China had steadfastly resisted pressure to drop the peg. The report in the official China Business Post gave no timescale for the changes and did not name the currencies involved, although the euro and the yen would be strong candidates. business.scotsman.com