16.02.2009 - China exporters offer lower exchange rates to offset strong yuan

From Telegraph: Chinese exporters are defying their government and unilaterally offering their customers lower-than-official exchange rates on their products to keep their businesses churning out goods. In a move which could exacerbate tensions at a particularly sensitive time for world trade, exporters in the heart of factoryland, who believe the strength of the yuan is causing the world to turn its back on cheap Chinese goods, are taking matters into their own hands..... Full Article: Source

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