Tags: Soros | China | currency | yuan

Soros: China’s Use of Undervalued Currency Coming to End

Wednesday, 26 Sep 2012 05:46 PM

China’s strategy of using an “undervalued currency” and building currency reserves to fuel growth has come to an end, billionaire investor George Soros said at an event in New York Wednesday.

“The growth model that has been driving it has been exhausted,” Soros said. “They have to change.”

Slower growth “will be big, big trouble for political leaders because growth has been reinforcing the power of central government,” Soros said.

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China's strategy of using an "undervalued currency" and building currency reserves to fuel growth has come to an end, billionaire investor George Soros said at an event in New York Wednesday.
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