Friday, January 30, 2004
Re: China, US and the world economy
Yes, it makes sense that the RMB will appreciate if allowed to free-float. For some stupid reason I thought China hadn't changed the pre-reform policy of keeping the RMB artificially high.
And also that the weak banking institutional structure and deadbeat SOE's are the main reason China is postponing that step.
But read this interesting perspective and ambition, expressed by a New York-based Chinese American, Henry C K Liu, who is clearly very passionate about China (I've been following his articles for a year now).
US dollar hegemony has got to go
China vs the almighty dollar
How the US will play China in the new Cold War
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