Yuan Can Cook
China has finally succumbed to pressure from America and revalued its currency, asserting America’s position as the only true superpower. China announced earlier today that it will revalue its currency Yuan, meaning it will lose precious foreign exchange, about 2.1 percent that is. What that means is- China will no longer maintaine it’s de facto currency pegged to the US dollar, which means that the US will pay 8.11 Yuan for every dollar worth of trade, not 8.28 as before. US is hoping to raise the Yuan by 30 percent.
As the news breaks in Beijing
Visit http://today.reuters.com/news/NewsArticle.aspx?type=businessNews&storyID=2005-07-21T122218Z_01_PEK350779_RTRIDST_0_BUSINESS-ECONOMY-CHINA-DC.XML for more
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posted by hso @ headsetoptions.org | 7/21/2005 08:33:00 AM
1 Comments:
Hi goodbye
I never realised that so many different types of blog would show up if I did a search on something like how to cook rice. I'm still not sure how well this post fits into that category, but I've enjoyed visiting :0) Adios Amigo.
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