In the year 1997 the exchange rate was RmbY106 to HK$100 and in the year 2011 the exchange rate is.... Y83 .
Rmb has already appreciated by 24%.Hong Kong people are feeling the growing pinch. Yet Americans are still shouting,screaming,crying and even bleating for the appreciation of the Rmb.Can somebody tell what figure they will be satisfied with respect to say Obama,Bush and Clinton or Mundell?
Edwards January 21,2011