re: dichotomy of a revalued renminbi
I missed the actual occurrence, but did note that the Chinese had been stating recently that an upward revaluation was necessary -for their own economic reasons, not to pander to the US. I agree with you that a further revaluation may be detrimental to all. I posted recently that Chinese steel profits are down and dropping. If that trend continues it will lead to cutbacks in iron ore & other commodities in the resource sector.If that happens, combined with rising Oz interest rates, watch our economy & the WA property market fall....... We have been very fortunate in cashing in a situation which is now delicately balanced. If that balance is disturbed, look out below.............
