Yuan-derful

The chief Asian economist at UBS authored an extremely insightful article to gauge the effects of Chinese currency policy on the global economy. His conclusion?

"It's surprisingly difficult to argue that the Chinese renminbi exchange rate -- or the exchange regime -- has had any substantial impact on the way the rest of the world works. Whether we look at jobs, trading patterns or global currency markets, China still shows up as a relatively small economy, and certainly not one that is 'driving the show,' now or in the near future. And whether the peg stays or goes is a sublimely unimportant issue in the large scheme of things."

Complete article...: