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Yuan's rise less good, more bad for people

By Xin Zhiming | China Daily | Updated: 2008-01-16 07:36
Yuan's rise less good, more bad for people

The continuous revaluation of the yuan has been bad for Zhu and her family because it has been shrinking their dollar assets.

The family runs an auto part import business, and converted some of its assets into dollar account during the 1997-98 Asian financial crisis, when the yuan was considered unsafe.

China depegged its currency from the greenback in July 2005, revaluing it by 2.1 percent. That triggered a process that has been eating into Zhu's assets ever since.

Yuan's rise less good, more bad for people

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