A rising yuan?
Seems like maybe it’s a good time to be going to work in China, and accumulating a pot of RMB…
RMB:USD
RMB:GBP
RMB:SGD
Yahoo! Finance’s exchange rates for today… Hmmm. My gut feeling tells me that the Olympics remains very important to the Chinese government; too much effort has been put into winning the Games, and preparing for them. Letting the RMB appreciate too much now would mean that foreign visitors would find their Olympic experience unexpectedly, even unpleasantly, expensive - and that wouldn’t be the result that Beijing wants, it would be a negative experience where no negative experience is desired. Better to wait, let people come and have a cheap good time in August, and then look at a significant rise…
Saturday, December 29th, 2007
