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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (14994)	11/6/2004 11:23:57 AM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

>>Just exactly what are these reforms and how long will they take to impliment. After they are implimented, how long after that will China actually do something?<< Quote of Li Ruogu, the assistant governor of the PBoC, "We have already said, time and again, that we are moving towards more market-based, supply-and-demand based, exchange rates. How long it takes, I don't know," he said. He said that in China's 8,000 year history, a decade was a short time. Mish, rule of thumb, the more the media report on Yuan revalue upward, the less possible China will do anything. Personally, I think those are just the rumor from some currency traders with high-stake in it<g> BTW, I read that Morgan-Stanley has 35% of ownership in a big JV finance company with China Construction Bank, and it is definitely doing some damage to Chinese stock market (A-Share) now. And some scholars now push Chinese gov. to have an investigation of that company. So I will read more critically of Andy Xie and Steven Roach commentary on China. Who know how much salt they put in is for Morgan-stanley's own financial interest? or maybe I should call it "manipulation"?<g>