Yuan for the money
REAL-LIFE PROBLEMS, INNOVATIVE SOLUTIONS
BACKGROUND:
China's impact on the world economy has become colossal. It has restructured trade and investment patterns, exported deflation and stoked commodity prices. To maintain the yuan's fixed USD peg, authorities have bought USD at the rate of 20 billion-30 billion a month, setting the country up to overtake Japan as the largest reserves holder early next year. Reinvestment of these funds has depressed G-10 interest rates and suppressed volatility in major FX markets.But China's very
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