Quite confusing title .its chinese word for currency
it was recently reported that china’s foreign exchange reserves were rising by 1 billion u.s. dollars a day.
the total amount of china’s reserves runs into some trillions of dollars.
there is a fear that china will use this money to buy up key industries and indirectly steal technology.
canada, for one, is now formulating laws, that state owned foreign investors are going to get careful scrutiny before they are permitted to invest in canadian registered companies.
all this money china was able to acquire by pegging the yuan to the u.s. dollar.
previously japan did the same thing, on its way up to being an economic power.
why cant india do the same thing?
in these days, when rules are constantly re-written, to give the players any advantage, why iindia s suffering from the effects of an appreciating currency and causes sufferings to its exports?
china’s whose exports, are several times that of india, does not appear to have this inhibition?
is it only pride (maanam) that is the reason, as to why the indian ruppee is not pegged to the u.s. dollar?