China says the yuan will go up against the dollar, but it’s not ready to say when.
Meanwhile, the beggar thy neighbor approach of Chinese mercantilism has cost at least a million jobs in the US.
The need for the yuan to go up is clear (on the order of 20-40%), as is the need for the dollar to decline further.
Global trade balances will begin to even out, and the prospect of retaliatory policies will diminish.
Gorilla says: “We need more from column renminbi!”
Tags: China