The Chinese government does not like people betting against the yuan.
A stronger yuan could lead to greater Chinese asset accumulation in the U.S. and elsewhere.
In 2010, when the Lotus Sutra was made available to me by a private dealer, I was very fortunate to be able to have it. It is very long, 30 feet or something crazy like that. It has some 15,000 very small standard script characters that the artist Zhao Mengfu in the Yuan dynasty made when he was in his 60s.
My first time playing a main character was in 'Seventeen Years.' It was directed by famous Sixth Generation director Zhang Yuan, but it wasn't a large commercial film.
If money is the root of all evil, then China's manipulation of its currency, the yuan, is the tap root of everything wrong with the U.S.-China trade relationship.
The yuan is actually a very attractive currency and will prove to be very reliable-much more so than the U.S. dollar.
China understands economics more than most countries and is usually moved to increase freedoms when the yuan is directly involved.
After the maxi yuan depreciation of 1994 and until 2005, exchange-rate fixity was the order of the day, with little movement in the CNY/USD rate.
Since China embraced Deng Xiaoping's reforms on 22 December 1978, China has experimented with different exchange-rate regimes. Until 1994, the yuan was in an ever-depreciating phase against the U.S. dollar.
We are now preparing for the reform of the yuan's exchange rate system. For such reforms to take place, we need good economic conditions... and we need to do it under tight control.
