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Essay

Chinese Currency

Essay specific features

 

Issue:

Business

 

Written by:

Mercedes S

 

Date added:

June 5, 2012

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 742

 

Was viewed:

3557 times

 

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Essay content:

The weak economic environment in the country in 1985 resulted in the re-introduction of the managed currency floating system. Between 1985 and 1995, the changes in the Chinese domestic finance and economy led to a rather drastic depreciation of RMB. The Chinese government reverted back to pegging its currency to the US dollar...
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The Chinese government reverted back to pegging its currency to the US dollar. The peg rate was approximately $8.28 RMB to $1 US in 1995. It was not until 2005 that the Chinese and US currencies were ?°un-pegged?±, that is, RMB will be able to reflect based on its fair value. 2. China??s growing economy Since the economic reforms in 1979, China became one of the fastest growing countries in the world...
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