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Will China let the Yuan float upwards?

CaptHenwayCaptHenway Posts: 32,251 ✭✭✭✭✭
in Precious Metals
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If so, what effect will this have on the price of gold in both Yuan and Dollars?

TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

Comments

  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    I doubt they'll let it rise much anytime soon. The Chinese believe the Japanese damaged their economy by letting the yen rise following the Plaza Accord in the 1980s. Here's a summary from a Chinese perspective on the issue: Link.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • CaptHenwayCaptHenway Posts: 32,251 ✭✭✭✭✭
    They have no great incentive to change anything. If they just keep on doing what they have been doing for another ten years, they will own the world.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • PerryHallPerryHall Posts: 46,240 ✭✭✭✭✭
    If the Yuan rises, won't that make trade dollars more expensive?image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

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