Tuesday, May 17, 2005
Message to China: Hold Out Until December!
Treasury Dept. Warns China on Currency
This is all very intersting. Earlier this year, I decided to book a vacation to China before its continued economic growth forced it to allow its currency (Currently 8.28/$) to appreciate against the U.S. greenback. (That and the fact that I found a really great price on an airline ticket!). Looks like I made a good choice...the Bush administration is pressuring China to allow its currency to appreciate against the dollar. Some economists think that the Yaun (Renminbi) is could rise as much as 40% against the dollar...which would make Chinese imports more costly, and my vacation much more expensive. I'm hoping they hold out until December.
http://news.yahoo.com/s/ap/20050517/ap_on_go_ca_st_pe/us_china_currency_6
This is all very intersting. Earlier this year, I decided to book a vacation to China before its continued economic growth forced it to allow its currency (Currently 8.28/$) to appreciate against the U.S. greenback. (That and the fact that I found a really great price on an airline ticket!). Looks like I made a good choice...the Bush administration is pressuring China to allow its currency to appreciate against the dollar. Some economists think that the Yaun (Renminbi) is could rise as much as 40% against the dollar...which would make Chinese imports more costly, and my vacation much more expensive. I'm hoping they hold out until December.
http://news.yahoo.com/s/ap/20050517/ap_on_go_ca_st_pe/us_china_currency_6
