CHINA REPEATEDLY REAFFIRMED ITS STAND AGAINST REVALUATION OF ITS CURRENCY THE YUAN ATLEAST FOR THE MOMENT AND IN THE SHORT TIME, IF NOT FOR THE LONG TERM.

China repeatedly reaffirmed its stand against the revaluation of its currency the yuan atleast for the moment and in the short term, if not for the long term.
This move will reduce the use of yuan as the trading currency by many businesses operating abroad as the preferred alternative currency to the American dollar and the European euro.
However, this move may not change the huge volume of China's export in both the European markets and the USA markets, besides the phase of its growth as a result of the suppressed value of its currency in the world markets on one hand and on the other hand lucrative money markets businesses on yuan a long with imports to China may continue to decline to the extend that, if China's domestic production were to cease in certain fields such as in the field of industrial manufacturing, tele-communication, transport, or even agriculture, total collapse of the giant market could occur in a very short time.

Written by Godfrey Ohia.