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OCT 19, 2013 - Zero Hedge

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Unlike America, China Is Embracing Bold Reform

The contrast of the past week has been telling. In the U.S., you've had the yawn-fest otherwise known as the debt ceiling debate. All too predictably, the Republicans caved because their politicians will be up for re-election soon enough whereas Obama won't be (he can only serve two terms). It wasn't hard to work out the endgame in advance, despite all the hoopla, and the markets nailed it from day one. What's received far less attention is the rise of the Chinese yuan to a 20-year high versus the U.S. dollar. That's big news, comparable to the U.S. debt ceiling resolution. And it may have a ... Read More

Tags: Unlike America, China Is Embracing Bold Reform,  Exports Latest News