President Barack Obama proposed additional stimulus measures last week to boost the bumpy recovery in the United States, while China reported several indicators showing the positive impact of its own huge stimulus program. By 2011, one year before a presidential election, Obama may well have to play what could be termed the Nixon card, if the US recovery remains anemic, while China, with a then unpegged currency against the US dollar, likely will only have allowed the renminbi/yuan (renminbi is Mandarin for peoples’ currency; yuan in simple terms, means unit) to appreciate slightly, for fear of impacting export earnings.
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