Over a delightful dimsum lunch last week at the New World Restaurant in London’s Chinatown, I asked author Loretta Napoleoni to explain to this greenhorn what the pressure from the US for China to revalue the renminbi actually mans. She has kindly written a, “Economics for Dummies” blogpost for my Madam Miaow blog.
At the centre of the currency war one finds China. The world wants the renminbi to revalue but the Chinese, we are told, refuse to do that to keep flooding our markets with their products. But the real reasons are otherwise.
She is also the guest speaker at the opening gala of the Global Banking Alliance for Women Summit held in Washington DC tonight, 21st October 2010.