Tag Archives: renminbi

China begins to unpeg the renminbi

It’s about time!

After years of barely allowing the renminbi to adjust to the dollar according to market value, China made an announcement this weekend that they would allow their currency to adjust more in line with the market.  Keeping to their word, the yuan advanced to its highest level in two years in trading today.

What does this mean for us?  Possibly more expensive imports?  Maybe less outsourcing of jobs?  Maybe a devaluing of that debt that ol’ Dubya borrowed to kill people in Iraq?

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