China
China inflation surges to 11 year high on food, fuel, etc.
This obviously means that Central Bank of China is trying to remedy the economy by increasing the interest rate and letting the currency appreciate faster to cool down the economy.
Taking into account the fact that 2008 Olympic Games will take place in China, what are the possible consequences for the Chinese Yuan? Will the currency further appreciate or will the increasing trade patterns due to the Olympics drive the currency down?
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