Business Services Industry
Revaluation of yuan could trigger crisis.
Australasian Business Intelligence, May, 2005
May 23, 2005 (The Sydney Morning Herald - ABIX via COMTEX)
A Japanese finance ministry official has warned that China is repeating Japan's mistakes of the 1980s. According to Hiroshi Watanabe, the inflow of funds into China is encouraging speculation. This in turn is creating an asset bubble. When the bubble bursts it will cause a crisis in the region. He also believes that China's farmers will strongly resist a revaluation of the yuan. His views on the yuan are supported by other experts, including Professor Steve Hanke of John Hopkins University in the US. He says China would be foolish to revalue its currency. Originally published in the "Telegraph".
Publication Date: 24 May 2005
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