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To: Thomas M. who wrote (38306)3/7/1998 6:45:00 PM
From: Tony Wang  Read Replies (2) | Respond to of 61433
 
Yes they did. But their situation was different then. Since then
a lot progress to the western-model integration was completed.
Along with the knowledge to do things better. Remember they
were a communist country for 50 years. The situation today is
not the same as in 1994.



To: Thomas M. who wrote (38306)3/8/1998 12:46:00 PM
From: Peter Yang  Read Replies (1) | Respond to of 61433
 
>>Why did China devalue in 1994?<<

Because the government made the decision and believed that would benefit the economy (i.e., export). Before that the exchange rate had stayed same for many many years without any daily fluctuations (i.e., a constant for many years). It's hard to believe, but it's true.


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