"China was under lots of pressure to revalue their currency. However, they made a stand that they would to bow to the pressure. Discuss."
T_T, and I was telling my friends all about this. Saying if they asked about this, I'm going to be dead. Guess they want me dead. Real exam question worth of 20 marks. >>
"The Chinese government has been facing pressure from the Amercians and the Europeans to revalue the Chinese yuan. The Chinese authorities have said that they will move to a more flexible exchange rate, but they will not be rushed, because the country's financial system would not be able to cope with the fluctuations in the exchange rate. One of the options that is open to the Chinese government is to follow an arrangement that is similar to Singapore's.
Explain the benefits to China if it follows Singapore's exchange rate system."
Seriously, WTH... And it happens every semester. Our group would sit and vomit out all that we study and share. Then, I would ask a totally lame question that stump everyone. Everyone except me would check for the answer. Then it appears, everyone would know except me.
Because I don't think it would appear, that it's just a lame question I use to irritate. Gina... Note to self: Stop thinking up questions, I would only kill myself. T_T