4 Reasons Sourcing from China will be More Expensive in 2008 | SourceJuice
The yuan is “the best currency to buy right now,” Rogers told investors in Amsterdam, adding that he is shifting all his assets out of the dollar and into yuan. China is “going to be the most important country in the 21st century.”
Until mid-2005, China maintained a peg on the RMB to the USD at 8.27. This provided an element of stability and took the currency risk out of the sourcing equation. However, over the past year and a half, China has begun appreciating the RMB against the dollar. As of this blog article, the current conversion is 6.75. Furthermore, many experts are estimating the rate to dip well into the 6’s over the next year.
NASH: The rise of China is going to have major consequences across every field, industry, market and country. Are you thinking ahead as to what they might be?
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This entry was posted on Friday, September 19th, 2008 at 5:59 pm and is filed under American Culture, Chinese Culture, Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
But still there are problems in the political system (And yes, in the environmental system too), i don’t want to see this ‘rise’ will lead to some ‘power’ like CCCP: Looks great from the outside but corrupted in the inside.