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|User Info||Yuan..too simplistic a view?; entered at 2010-06-21 12:59:01|
Registered: 2009-07-07 Ontario, Canada
Perhaps I am looking at this too simplistically BUT...|
At about 11PM EST last night, 1 USD bought you about 6.82 Yuan.
During the night, the value of 1 USD went to about 6.787 Yuan.
For someone in the US to buy something from China, it has become more expensive.
Why the rally in the US markets?
If anything, the Chinese will get MORE USD for the same amount of goods purchased. This would be good for the Chinese.