China’s Renminbi Announcement: A Big Headfake

China’s Renminbi Announcement: A Big Headfake: "

The Chinese central bank made a vague announcement about its currency
policy on its website today, which the officialdom, on cue, treated as a
major move (to wit: “China
vows increased currency flexibility” at the Financial Times, “Chinese
say they intend to free up their currency,” Washington Post).)

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