Monday, January 10, 2005


Chinese Exchequers

When everyone knows that it (whatever it may be) is a sure thing ... well, you know the rest. This applies, of course, to Chinese revaluation of their currency:

Two prominent Chinese economists have called for caution in revaluing the yuan, saying authorities must keep an eye on other currencies as well as China's export sector before making any changes.
I will resist the urge to gloat ... and besides, it was Gavekal, not I (the mere messenger) who first saw the self-interested hesitance a' brewin'.