| Jianshuo, I posted on this topic at length after transferring money at 6.9835 yesterday! There is some debate over who are the winners and losers of a strong RMB. Frank Gong of JP Morgan has some great thoughts on this topic -- basically highlighting the miraculous 20% productivity growth which has allowed the export sector to survive in the face of higher input prices, higher wage prices, and RMB going up. http://tinyurl.com/4wq85l |
1 USD = 6.9966 RMB