{"id":189576,"date":"2010-03-10T19:27:00","date_gmt":"2010-03-11T00:27:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/03\/10\/headlines-that-take-the-starch-out-of-your-shorts\/"},"modified":"2010-03-10T19:27:00","modified_gmt":"2010-03-11T00:27:00","slug":"headlines-that-take-the-starch-out-of-your-shorts","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/03\/10\/headlines-that-take-the-starch-out-of-your-shorts\/","title":{"rendered":"Headlines that Take the Starch Out of Your Shorts"},"content":{"rendered":"<p><a href=\"http:\/\/www.ft.com\/cms\/s\/0\/6cd3a766-2925-11df-972b-00144feabdc0.html?ftcamp=rss&amp;nclick_check=1\">Beijing studies severing peg to US dollar<\/a>.<\/p>\n<p>Truth be told, the hed is a bit alarmist:  The Chinese are talking about starting to talk about allowing the Yuan to appreciate a bit:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>China\u2019s central bank chief laid the groundwork for an appreciation of the renminbi at the weekend when he described the current dollar peg as temporary, striking a more emollient tone after months of tough opposition in Beijing to a shift in exchange rate policy.<\/p>\n<p>Zhou Xiaochuan, governor of the People\u2019s Bank of China, gave the strongest hint yet from a senior official that China would abandon the unofficial dollar peg, in place since mid-2008. He said it was a \u201cspecial\u201d policy to weather the financial crisis.<\/p>\n<p>\u201cThis is a part of our package of policies for dealing with the global financial crisis. Sooner or later, we will exit the policies.\u201d <\/p><\/blockquote>\n<p>Pretty weak tea,<sup>*<\/sup> actually, and I think that everyone, even the PBC realizes that the current peg is unsustainable, and my guess, based on absolutely nothing, is that they are talking about talking because it&#8217;s a way to kick the can down the road.<\/p>\n<p><sup>*<\/sup><span style=\"font-size:78%;\">Pun not intended.<\/span><sup>\u2020<\/sup><br \/><sup>\u2020<\/sup><span style=\"font-size:78%;\">No, <\/span><span style=\"font-weight: bold;font-size:78%;\" >really<\/span><span style=\"font-size:78%;\">, it was unintentional.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beijing studies severing peg to US dollar. Truth be told, the hed is a bit alarmist: The Chinese are talking about starting to talk about allowing the Yuan to appreciate a bit: China\u2019s central bank chief laid the groundwork for an appreciation of the renminbi at the weekend when he described the current dollar peg &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1170,1080,985],"tags":[],"class_list":["post-189576","post","type-post","status-publish","format-standard","hentry","category-china","category-currency","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189576"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189576"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189576\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}