Will a Yuan “Revaluation” Help American Manufacturing?
Posted in Economic Illiteracy, Macroeconomics, trade on Apr 6th, 2011
Not likely. First, a brief summary of the idea. Right now the Chinese Central Bank buys and sells US Dollars with the aim of keeping the Chinese RMB, the Yuan, pegged at a rate of 6.56RMB to the dollar. In other words, each yuan is worth 15.2 cents. I’d remind readers that the Chinese simply […]