Thursday, July 21, 2005

china lets yuan float in narrow band; maytag and unocal bids rebuffed

jul 21st

as san mentioned, the chinese have decoupled the yuan from the dollar, which is good news and bad news. good news in that the cost of chinese goods will increase. bad news in that they will be able to buy more stuff in america.

but their bids for maytag and unocal have been firmly rebuffed. these firms will remain in american hands

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