Just read some emails and very interesting - somehow I could have easily missed it. If it weren't for the credit crunch and Bear Stearns (as what I saw in Bloomberg) going under and all the US election hooplah in the news and the screech of the wheels on the US economy grinding to a halt, *sigh* may be I need to heard more about it.
Chinese yuan Renminbi (RMB) hit a milestone last week when it traded under seven RMB to the US dollar for a while. The dollar used to be worth something. Somehow, IMF is pointing out what everyone else already knew about the rising Yuan (RMB). Again meanwhile, China needs to fight inflation and a rising yuan does just that, making imported goods cheaper in China.
Next question: But is the stronger Yuan (RMB) having much impact on the US economy?
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