Renminbi revaluation would solve several issues

It's the beginning of the end of US dollar dominance, says Societe Generale, which predicts a renminbi revaluation could happen as soon as this summer.

The theme of recent discussions has been whether China is deliberately keeping its currency, the renminbi, undervalued in order to keep a trade surplus, despite continuing US pressure on China to allow the currency to appreciate. Chinese premier Wen Jiabao has rejected such claims.
In Europe we have secretly been hoping for the end of US dollar dominance for years, said Michala Marcussen, London-based head of global economic research at Societe Generale corporate and investment banking, at a...

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