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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (53687)	3/28/1999 11:23:00 AM
From: J. P.	Respond to of 132070

RE: Possible devaluation of Chinese yuan FWIW, From a friend of mine working in China: Hi Jim, > Yuan devaluation? My opinion is not this year, becoz of the following reasons: 1. The handling over of Macau on the 20 Dec 99, do you think the mainlanders with allow yuan devaluation? No, becoz they want to prove to the world that they could able to 'back-up' Macau, as they did for Hong Kong in 1997. 2. Taiwan issue. They will never give up. 3. They had approved RMB180 billion this year for infrastructure project which include railway, bridges, highway etc. 4. This year is a BIG year for them, 50 years anniversary, there will be a BIG celebration on the 1 Oct 99 in Tiananmen, Beijing. Well, I am not the expert, but this is only from my point of view and moreover Premier Zhu Rong Ji already emphasis yuan would not devalued over his live interview last week, and I believed he is speaking on behalf of the 1.2 billion mainlanders. Maybe you (overseas) do not understand their culture and system, me too, but I am learning. One thing I do not understand is what made overseas investors thing that yuan might devalue, you know I am here in China and I really wish to know how you people come with the assumption? I am also very concern abt this, because now my project here is payback time, if yuan devalued, we will suffer.