China's revaluation and the ripple effect
1-Aug-2005
Much like chaos theory's butterfly, which flaps its wings in Brazil and causes a tornado in Texas, policymakers, economists and stargazers everywhere are wondering how Beijing's decision to revalue the yuan will affect the rest of us further down the road. It's a move that could have a profound impact on duty-free in Asia and beyond
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On July 21, China announced that it was to revalue the yuan upwards by 2.1% from its fixed rate of 8.28 to the US dollar, a level it had held
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China's revaluation and the ripple effect