Fast Yuan Rise Hurts China
2008-02-09DENGYUWEN
Beijing Review 2008年17期
DENG YUWEN
Chinese currency, the yuan, broke the 7 mark against the U.S. dollar on April 10. Till then,it had appreciated over 15.5 percent since China de-pegged the yuan from the U.S. dollar in July2005. Its pace has picked up abruptly especially this year, and has risen about 4.27 percent since thebeginning of this year. While calls for further appreciation continue from overseas, Deng Yuwen,a senior editor with Study Times affiliated to the Party School of the Central Committee of theCommunist Party of China, shows his concern over its impact on the Chinese economy.