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Thread: Can the appreciation of Yuan tame China's economic inflation?
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[quote=LEONARDO,294570]Quote >>The U.S. is a debtor nation and will continue to be in the future. This reminds me of a discussion on American economy and its consumption on another form. If we observe it carefully, we will notice that USA is a big debtor nation, which means it owes a lot of money to others, whereas Americans almost lived the most affluent life in the world. What's wrong? It might be a related to the consumption concept. Americans are smart. They learned to live an affluent life by borrowing money. In China, it's a totally different picture. China has the largest store of foreign exchange reserves in the world and the largest store of national savings. As I remember, Forbes said that China saved 50% of its national income in 2007, by far the highest rate among the world's major developing or industrialized countries. China's citizens save about 25% of their net pay (in the U.S., this rate is less than 1%). However, Chinese people's living standard is dwarfed by the Americans. To the original topic, my answer is "No". The appreciation of Chinese Yuan is not a panacea for economic ills.[/quote]
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