China currency revaluation would have little impact on US/China trade: Woolfolk

So according to Michael Woolfolk, Senior Currency Strategist for the Bank of New York Mellon...

"...all parties (China/US et al.) agree on the purchase power parity view on this, but China suggests that this is not going to have any appreciable impact on the trade imbalances between our two countries, and that's probably also true."

But it will be financially detrimental to the Chinese economy.

Light bulb!!! Instead of asking China to float their currency exchange, why not stop this thing called 'Globalization' as Woolfolk defines it?

:)

Stand strong China!

Comment away.

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