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

To: mishedlo who wrote (33983)7/21/2005 8:41:29 PM
From: regli  Read Replies (2) | Respond to of 116555
 
I think the China action was much more than "absolutely nothing". I believe that floating the Yuan against a basket of currencies is very significant as it provides China with much more maneuverability to defend itself against calls to revalue further.

The currencies in the basket surely include the Euro and the Yen and it is therefore highly unlikely to fluctuate significantly. As a result, this provides excellent cover to resist further revaluation.


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