Patience, not Pressure, Will Revalue China’s Yuan

With 2009 and its economic woes behind them, the world’s major economies share a common goal for 2010: recovery. However, they also share a common problem that could stand in the way: China’s undervalued currency. A G-7 meeting in Canada next month looks increasingly likely to be a forum for discussing remedies for global currency imbalances, with a focus on the yuan. But can outsiders really do anything to influence China’s exchange rate? Or would a better strategy simply be to wait for Beijing to make the decision to revalue the yuan on its own? Before answering these questions, it […]