What's going on with that HUGE chinese delegation going to Washington? I heard it's about half of the Chinese cabinet is heading that way. That seems a little excessive unless something big is going down. There are going to be meetings with the economic team and the EPA, and a number of other departments as well. Is this a little odd or is it just me? It's not normal to send over huge teams like this is it?
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reciprication?
I heard the last US delegation to Beijing was huge too. Maybe it's just a little payback.
Currency
Well, they just increased the amount that the RMB can fluctuate each day against the dollar from .3% to .5%, which doesn't sound like much, but it is more than 60% more and the RMB has already gained several % against the dollar this year. I assume that was a deliberate move just before the delegation showed up in DC.
Maybe they figure as long the US is slightly happier they might as well send more officials.
All about trying to justify
All about trying to justify a 270 billion USD trade deficit...and trying to persuade the Americans not to start issuing sanctions. Pretty serious stuff...
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