Former PBOC Advisor Li Daokui hit the headlines earlier today (over Reuters) after he commented that he felt relief with the mid term election results because it would reduce political calls for China to let the Yuan rise. I am not sure where he is coming from on this one – it sounds at face value that he knows little about US politics. Given his economic background he (and China) might be just taking the high moral ground after Bernanke gave carte blanche to debase the dollar overnight. Oh how the mighty have fallen!
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