Fed Chief’s Help Enlisted for Trip to Press China - NY Times
How much can China let the RMB appreciate given their nearly $1 trillion in foreign reserves? That in mind, I still think a richer RMB will be a key milestone in China's transition from investment- to consumption-led economic growth. It'll probably also lead to a spree of buying foreign companies and assets and a tidal wave of tourism that will harken back to the 80s resentment of Japan.
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