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John Lounsbury
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John Lounsbury, Managing Editor and Co-founder of Global Economic Intersection, provides comprehensive financial planning and investment advisory services to a small number of families on a fee only basis. He has a background which includes 34 years with a major international corporation, 25... More
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  • Yuan Peg to the Dollar is "Temporary" 1 comment
    Mar 8, 2010 12:21 AM
    Geoff Dyer writes at ft.com that Zhou Xiaochuan, governor of the People’s Bank of China, has said that the peg of the Yuan to the U.S. dollar was a “special” policy to weather the financial crisis.  Not allowing the Yuan to rise in value has been criticized as distorting the cost of Chinese goods, keeping them too low in international markets for the maintenance of healthy balance of payments (for trading) around the world.  Criticism has been particularly strong from the United States.

    Other Chinese officials have indicated recently that China was not likely to allow the Yuan to be revalued.  It is not clear whether Xiaochuan's statements reflect a change in policy or a disagreement among China's leaders.

    There have been recent speculations reported about Yuan revaluation and other possible moves that China may take to address the imbalances in international trade.  

    Disclosure: No stocks mentioned.
    Themes: Yuan, Xiaochuan
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    The Chinese have been telling us that the peg is temporary for at least a decade. IMHO the only way they will allow the Yuan to float on international markets is if the U.S. Dollar gets devalued. Which scenario is not out of the question in view of our debt load.
    8 Mar 2010, 07:05 PM Reply Like
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