China: Why it was not going for REVALUATION for its CURRENCY
Pressure on china to revalue its currency was mounting. EU and even Japan to pressurized China to revalue its currency had joined U.S. Recall that china received plaudits during the Asian crisis for maintaining stable exchange rate policy and avoiding competitive devaluation. Then, why Chinese currency was now blamed for global imbalances?
World's dependence on US for growth has been increasing and it played disproportionately larger share in world growth throughout 90's. Japan has long its status as growth engine and EU's economic growth has been sluggish. But the equation has somewhat c…
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- China: Why it was not going for REVALUATION for its CURRENCY
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