China and Foreign Exchange etc.

Doug Henwood dhenwood at
Fri Jun 19 11:46:04 PDT 1998

Rakesh Bhandari wrote:

>Aren't the Chinese threatening devaluation in order to get into the WTO?

That's not the way to win friends or influence people. I think the Chinese are threatening devaluation because exports are slipping, profits are slipping, and growth is slipping, and devaluation looks like a mighty tempting option, if you can ignore the consequences.


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