Question: Evaluate the three choices that China faces in determining what to do with its currency value. Which choice would you choose, and why? On July

Evaluate the three choices that China faces in determining what to do with its currency value. Which choice would you choose, and why? On July 23, 2005, China revalued the yuan by 2.1 percent. Given that the exchange rate was 8.2725 prior to the revaluation, look at the exchange rate today. How much has the yuan revalued against the dollar since then? Do you think this is enough to take the pressure off of China? Why or why not? Using Table 10.1, which exchange rate arrangement is China using now? Be sure to read the footnotes. TABLE 10.1 Exchange Rates for Selected Countries, September 1, 2006 Country Currency Units per U.S. Dollar U.S. Dollars per Unit Australia Brazil Canada China, PR Denmark EMU members Hong Kong India Japan Malaysia Mexico New Zealand Norway Singapore South Africa South Korea Sri Lanka Sweden Switzerland Taiwan Thailand United Kingdom Venezuela Dollar Real Dollar Yuan Krone Euro Dollar Rupee Yen Ringgit Peso Dollar Krone Dollar Rand Won Rupee Krona Frane Dollar Baht Pound Bolivar 1.3049 2.1397 1.1056 7.9533 5.8125 0.7792 7.7780 46.38 117.21 3.6655 10.894 1.5267 6.3350 1.5721 7.2155 960.30 102.180 7.2666 1.2308 32.850 37.480 0.5249 2144.60 0.7663 0.4673 0.9045 0.1257 0.1720 1.2833 0.1286 0.0216 0.0085 0.2728 0.0918 0.6550 0.1578 0.6361 0.1386 0.0010 0.0098 0.1376 0.8125 0.0304 0.0267 1.9050 0.0005

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