Moving While Staying Still on the Yuan – China Business

online.wsj.com — If People's Bank of China Governor Zhou Xiaochuan is ever looking for a new career, he might find steady work as a diplomat.

His words on China's exchange-rate policy over the weekend achieved a tricky dual goal. Admitting that the exchange-rate policy was part of China's response to the global economic crisis, Mr. Zhou raised the hopes of those looking for an end to the yuan's de-facto peg against the dollar. But he gave away no indication on how or when China might start to raise the yuan's value.

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