China blinks. Another victory for the Bush Admin.
I wonder if China is going to do this, knowing it could very well trigger inflation here in the US?
I had talked to several economist types here in DC and online and they basically told me China didn't even have the ability to do this let alone the desire. This is really going to shake things up.
Most of our equipment for the manufacturing they do has been sold overseas, so why not? Now they can manipulate their currency to fit their expansionist plans.
Blink is right
TWO friggin' percent--
The smallest guess I've seen was that the yuan was undervalued by 25%, not TWO percent.
Not really.
There were reports in the news that China was supplying terrorist with weapons and maybe they know there will be hits and don't want to be in American currency when that happens.
IMO, regarding China, what goes around will come back around and destroy them.