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Economy & Business - July 2005

What does China's revaluation mean for Latin America?

The decision by China to end its 11-year peg to dollar has furrowed economists' brows across the world. On 21 July China revalued the yuan by 2.1% to 8.11 against the dollar from 8.28. In Latin America, countries with substantial manufacturing exports, such as Brazil and Mexico, have long complained that China, which had pegged its currency to the depreciating dollar, was competing unfairly.

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