China Peg April 2010

China Peg April 2010 - Global Data Bolster Case for...

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See a sample reprint in PDF format. Order a reprint of this article now APRIL 2, 2010, 2:48 P.M. ET Dow Jones Reprints: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit www.djreprints.com Global Data Bolster Case for Depegging the Yuan By MICHAEL CASEY NEW YORK--There was enough joy in Friday's payrolls report to confirm that the U.S. is enjoying some benefits from a gathering global recovery, but enough disappointment to keep the Federal Reserve from edging toward a rate hike. That could prove negative for the dollar, which in turn could feed inflation in countries whose currencies are pegged to it -- including China. In the 24 hours before the middling news that the U.S. added a less-than-expected 162,000 jobs in March, we learned from various purchasing managers' surveys that worldwide manufacturing was on a tear in the same month. We also saw commodities soar, with oil reaching 17-month highs. This global boom is most concentrated in Asia, especially in China, where increases in the prices-paid
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This note was uploaded on 05/22/2010 for the course ECON 110D taught by Professor Schmitt-grohe during the Spring '08 term at Duke.

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China Peg April 2010 - Global Data Bolster Case for...

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