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revalue |
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The yuan last week saw its largest one-day drop since the July '05 revaluation. 1% revaluation (against the US dollar) of the Chinese yuan in July 2005 had on their business, 82. A forced revaluation under pressure from the G3 would not only fail to correct global imbalances but would have a gross detrimental effect on the Chinese economy, which in turn would undermine growth and macroeconomic stability in Asia. |
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