Why China is the most important market of the 21st century.
China is the next great nation.
They have great plans for the yuan and are slowly moving away from the dollar peg and treasuries. Their currency will rise dramatically once it is allowed to float freely.
The Chinese will see a RISING yuan and thus a exploding living standard.
I do not know who said such stupid things, but they are completely foolish and untrue. Chinese government is totalitarian, but they are afraid of political unrest, too, and to avoid it must keep unemployment as low as possible. To do this thing, they must make exports as cheap as possible, and thus have as many people work at factories as possible, which means they have to keep their currency as cheap as possible. If Chinese government allowed for such things as stated above, price of Chinese labor and exports will go up, unemployment will go up, and people with power in government may have to deal with popular revolution. Again. They fear this, and will not let it happen.