Tuesday, February 16, 2010

Goldman Says "Something Brewing" in China on Currency; What's Really Brewing Is "Trouble"

With a lot of eyes focused on the PIIGS (Portugal, Ireland, Italy, Greece, Spain), especially Greece and Spain, please don't forget about China. Goldman’s O’Neill Says ‘Something Brewing’ in China on Currency. http://www.bloomberg.com/apps/news?pid= ... _gAo&pos=3

Goldman Sachs Group Inc. Chief Economist Jim O’Neill said China may be poised to let its currency strengthen as much as 5 percent to slow the world’s fastest growing major economy.

“I have a strong opinion that they’re close to moving the exchange rate,â€