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

To: mishedlo who wrote (22512)	1/31/2005 2:40:28 PM
From: RealMuLan	Read Replies (3) \| Respond to of 116555

Mish, good rant. Roach might drink too much<g>. And here is the latest news from China about the possible timing of floating RMB. The head of the National Foreign Exchange Management Bureau Guo ShuQing said to the media that if all the reform goes smoothly according to the plan, then 5-6 years from now, RMB will become exchangable. The head of a research institute Zhang YanSheng said that China has just begun its financial reform, and there are more than 20 projects waiting to be tackled. So the time table will be anywhere bet. 5 and 6 years. So by 2010, RMB might be float. To make RMB exchangeable is a big and important systematic project, so China has to take it one step by one step. The goal for China is that 10-15 years from now, RMB will become one of the four major world currency (after US$, Euro and Yen). The Chinese article link: news.hexun.com