When the yuan eventually stands on its own in the global currency markets, the result will not be pretty.
FYI, the last notable country to do this kind of thing was Japan, back in the 1980s. Look at all the complaints about China on this thread, and compare them to all those 1980s doomsday predictions about Japan owning the entire world. Notice the similarity? Does anyone talk about Japan anymore?
The China based business model is flawed. The worse things get there the better for our corporations. If there is labor problems, thats ok, it just means we can pay them a little bit less than last year...