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Thread: Poll: How Does the Financial Crisis Affect Your Travel Plan?
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[quote=PYGRANT,377977]Has anyone noticed that the RMB and the dollar held the same rate of exchange for as long as I've been watching it (almost 3 years)? It's been about 6.8 yuan to the dollar for a long time. In the same period of time the won has gone from 983 won to the dollar, to over 1500 won to the dollar, and now below 1200 won to the dollar presently. China feels it's best for it's economy to keep the dollar/yuan exchange rate where it is, and manipulates the currency markets to do so. Incidentally, this is why the get so much grief from most of the developed world (Europe, America, Japan,etc.), which feels the RMB is undervalued and places them at a disadvantage in trying to sell good internationally.[/quote]
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