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Global Economic Perspectives - Jun 2010
This month GEP brings you our insights into 1) The limits of stimulus
packages, 2) Defending western - style capitalism, 3) Wavering financial
markets in context, and 4) European outlook.
The second quarter of 2010 began on a positive note with markets cheering
the strong economic recovery in major emerging markets. However, weakness
in European economies, the implementation of tightening measures in China,
more specifically, in its property market, and lower commodity prices led
global markets to correct in the latter part of the period.
China Increases the Flexibility of the Renminbi - June 2010
For approximately two years, China has effectively pegged the value of its currency, the renminbi, to the value of the U.S. dollar. In 2005, it briefly allowed a controlled appreciation of the currency, but it ended that policy with the emergence of the global economic crisis.
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