The Wall Street Journal (June 20)
2010/ 06/ 21 by jd in Global News
China will move toward a more flexible exchange rate, dropping the yuan’s dollar peg. This announcement comes at a good time, ahead of the G-20 meeting. This means the exchange rate won’t overcloud the major issue: “the failures of U.S. and European economic policies.” The WSJ points out the revalued yuan will not be the silver bullet that solves these problems.
China will move toward a more flexible exchange rate, dropping the yuan’s dollar peg. This announcement comes at a good time. Ahead of the G-20 meeting, this means the exchange rate won’t overcloud the major issue: “the failures of U.S. and European economic policies.” The WSJ points out the revalued yuan will not be the silver bullet that solves these problems.
