Thursday, July 21, 2005

Yuan Revalued

From the Economist:
China has revalued its currency, the yuan, and linked it to a basket of currencies-though it is not yet clear how far it will be allowed to rise.
The eleven-year peg is dead, but don't celebrate just yet. For more on the subject, see:
  • The reevaluation's effect on the dollar here.
  • The reevaluation's effect on other currencies here.
  • A running commentary on the subject at Survived SARS (just scroll).