Now that multinationals can trade with Chinese customers and suppliers in renminbi, CFOs have a new option to weigh.
Vincent Ryan, CFO Magazine
July 15, 2011
Hopefully this means that China will allow its currency to float more freely, which would allow it to realign itself vs. the US dollar. While this may cause a devaluation of the dollar somewhat, it would make US goods more competitive internationally. Further, if China, as it has already stated, wants to take its place alongside other economic powers, then it is critical that it does not continue to provide itself with this artificial currency derived advantage. They cannot, in my opinion, have their cake and eat it too.
Posted by Jeffrey Kraut | July 26, 2011 11:45 am© CFO Publishing Corporation 2009. All rights reserved.