Sabri,
My inclination is to think the recent Brazil-China agreement is
essentially symbolic but don't know anymore. In contrast, the currency
control tightening in Venezuela I referred to is real and is about to
have major impacts if the government doesn't blink.
michael
On 20/05/2009 1:51 AM, Sabri Oncu wrote:
Michael and others,
Below is not about currency controls, but it is relevant. An
interesting development! Do you think it would have been better if
Brazil was paying for Chinese goods with Chinese renminbi and China
was paying for Brazilian goods with Brazilian real? Would it make any
difference when renminbi was converted into real and vice versa? I am
not sure, so just running it by you! Whatever the answer, this is not
good news for the US dollar.
Sabri
++++
--
Michael A. Lebowitz
Professor Emeritus
Economics Department
Simon Fraser University
Burnaby, B.C., Canada V5A 1S6
Director, Programme in 'Transformative Practice and Human Development'
Centro Internacional Miranda, P.H.
Residencias Anauco Suites, Parque Central, final Av. Bolivar
Caracas, Venezuela
fax: 0212 5768274/0212 5777231
www.centrointernacionalmiranda.gob.ve
[email protected]
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