Brian Gongol
China promises to let its currency appreciate...a little bit
But the total amount of adjustment and the schedule for the process are still up in the air. By keeping its currency "weak", China has made it difficult for its people to buy foreign goods, but simultaneously makes it cheaper for the rest of the world to buy Chinese-made stuff. If it lets the currency appreciate a bit, Chinese-made stuff won't appear as relatively cheap to the rest of the world -- but in turn, the rest of the world is going to have to save more than it has in the past.
