but not for yet a while.
There have two major developments in the last 7 days in relation to the competitiveness of the yuan – or renminbi – the currency of China. The first was the decision by US Treasury Secretary Tim Geithner to reserve judgement on whether the Chinese are manipulating their currency and keeping it low to maintain its export competitiveness. The second was the meeting over last weekend of the Chinese government to discuss its plans for the next 5 years of growth and development. Unlike western economies the Chinese continue to create 5 year plans to guide the economy. The one now published – the 12th - covers the years 2011 to 2016.
