MNI on the 21st Business Century Herald report, a piece from ex-PBOC adviser, Yu Yongding
- Yuan "crawling peg" system should be abandoned
- Its unable to break expectations of medium- and long-term yuan depreciation
- China should improve its management and control of capital outflows
- Should increase the yuan's exchange rate flexibility as much as possible
- Should peg the exchange rate to a basket of currencies
-
I dunno how pegging it to a basket increases yuan flexibility as much as possible. That's probably just me though.
