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After 1750 China fell into a long sleep and there has long been speculation and concern that the sleeping giant would wake. Napoleon Bonaparte was reported to have said “Let China sleep. For when China awakes it will shake the world” The sleeping giant awoke in 1978 with the Chinese Communist Party’s replacement of Maoist policies, since then China has experienced explosive growth. James Hoge Jr., editor of the journal Foreign Affairs claimed in his July-August 2004 issue that China would replace Japan as the power center in Asia.
From 1994 until July 21, 2005, China maintained a policy of pegging its currency to the U...
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Common topics in this essay:
- China Currency Reserves Top Japan's, China Business News Says
- China's Exchange Rate
- China’s Currency Reevaluation: Necessary or Superfluous
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- Exchange Rate
- Exchange rate policy
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- How Did The Appreciation Of The U.S Dollar And Depreciation Of The Yuan Affect The Timing And Magnitude Of The Asian Currency Crisis?
- Is China's exchange rate undervalued?
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