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China Won't Let Yuan Float So Freely After All

Last month, China said it would loosen the tight link between its currency, the yuan, and the U.S. dollar. It was a move welcomed by economists and world leaders who felt China was engaging in unfair currency manipulation. But on Wednesday, the government in Beijing backpedaled a bit.

China's Currency Move Means Hard Decisions Ahead

If you think China's decision to unpeg its currency from the U.S. dollar was a good move for both countries, Gary Shilling says don't believe it. The economist who saw the subprime crisis coming warms that the move isn't what it appears to be, and says it will have a number of unintended consequences.