Good Summary of China's Currency Situation

If you're interested in reading a nice summary of where China sits with its decision on currency revaluation, you may find thisProspects for China's Currency Revaluation from the Center for American Progress useful. The Center is a very liberal organization and hardly a big booster of free trade, yet here supports China's reservations on revaluation. It is extremely important for China to strenthen the miserable state of its banking system, and the Chinese worry any currency revaluation could have the opposite effect.