Someone wrote in to ask what the renminbi has appreciated 16 percent against this year. Great point! That would be the US dollar.
1 comment:
Anonymous
said...
OK, and you said this a bit, but what you're seeing is the US dollar inflating. China's currency is partially pegged to the dollar and is importing some inflation. People are feeling their money losing value.
I'd say however that many of the social changes you mentioned are actually simply a result of inflation. If we see inflation of the US dollar stop against gold for instance, look out for the price increases in China to stop or reverse.
I'm the author of The China Price, an investigation into the human and environmental cost of our pursuit of ever-cheaper goods. I spent nine years at the Financial Times, covering China, Japan, and the UK. Before joining the FT, I researched Japanese defense policy at Tokyo University’s graduate school and worked as an aide to Nakatani Gen, a Japanese politician. A 1997 cum laude graduate of Princeton University, I was born in Washington, DC and now live in Hong Kong with my husband, the photographer Colin Beere.
1 comment:
OK, and you said this a bit, but what you're seeing is the US dollar inflating. China's currency is partially pegged to the dollar and is importing some inflation. People are feeling their money losing value.
I'd say however that many of the social changes you mentioned are actually simply a result of inflation. If we see inflation of the US dollar stop against gold for instance, look out for the price increases in China to stop or reverse.
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