China Loosens up, but is it enough?
Posted by jeckert on 06/22/2010
NPR's All Things Considered featured a piece on China's recent announcement to allow the yuan to gradually revalue and reflect market forces. After the announcement, stocks climbed globally, but as the day wore on, U.S. stocks fell, indicating that some question the validity of the move made by China's Central Bank just days before the G20 summit. NPR quoted AAM Executive Director Scott Paul, who said in a statement released yesterday, "I'll believe it when I see it." Read more and listen here.
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