China to Reform Exchange Rate on Own Needs
Shared by Henry
More of the same rhetoric. Recent chinese deficit in their trade balance number means that demand for Chinese goods in China is rising, and that means haveing a stronger Yuan will ultimately benefit China. But just to not appear “weak” in front of Westerners, Hu is going to put up a show… but the facts are Yuan will probably be open traded soon, and that will put more demand on AUD and other Asian currencies…
Chinese President Hu Jintao said China will be steadfast in the reform of its exchange rate policy while his U.S. counterpart repeated his call for more yuan flexibility during a meeting on the nuclear summit sidelines in Washington on April 12. A Chinese official in Washington characterized the …
