China has been and still is the fastest growing economy in the world and it doesn’t seem to be stopping any time soon. Quoted from Wikipedia, in 2006, the GDP “$2.68 trillion USD. Its per capita GDP in 2005 was approximately US $1709 (US $7204 with PPP), still low by world standards, but rising rapidly. Thanks to exported goods, it has enjoyed a tremendous growth without pause. To compare the enormity of the trades, it has just surpassed Canada as USs biggest importer of good.
Chinas exports are expanding and at a menacing rate, especially to high consumption societies such as the United States and European Union. While largely exporting, it has little imports other than oil. Virtually all of the imports in these countries come from China, particularly in textiles and toys. With these export revenues, how does the Yuan value in the market?
For more than a decade, the dollar was pegged at a rate of 8.28 Chinese Yuan for every dollar. While this policy to play an economic advantage, especially keeping low so the exports sold are cheaper than other exporting countries that compete with China, particularly its Asian neighbors. This policy has been the...
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