Nightlife
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The event under discussion did not merely...
to raising the yuan"s exchange rate by almost 20%. Add to this dollar issuance to cover debt and the budget deficit.Still, Beijing is not omnipotent. It is true that China first began to dump U.S. debentures and then turned around and bought them when the rate began to plunge. Please note the word "slowly" mentioned above. Beijing would lose in any respect because all-out debenture sales would only depreciate the dollar further.
The opinions expressed in this article are the author"s and do not necessarily represent those of RIA Novosti.
MOSCOW. (RIA Novosti political commentator Dmitry Kosyrev)
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