China will devalue the yuan in 2012, writes Ambrose Evans-Pritchard, submitting his own list of...

|By:, SA News Editor

China will devalue the yuan in 2012, writes Ambrose Evans-Pritchard, submitting his own list of predictions for the year. In so doing, the country will foist even more of its massive production overcapacity onto an already deflationary world, forcing the West "to turn its back on globalization ... The idea that China can rescue anybody will seem quaint."