"Japan can not appreciably revalue its currency, nor can other Asian governments revalue their currencies, until China stops intervening in currency markets, " Morici said.
America is pressing China to revalue its currency and Google is threatening to leave China entirely.
These arguments help to explain why the Chinese have so far ignored American demands to revalue their currency.
Alternatively, a surplus country wanting to avoid the inflationary consequences of capital inflows might revalue its currency upward.
But don't expect it to push too hard for other countries, particularly China, to revalue their currency to reduce the trade deficit.
Instead its foreign-exchange reserves are building up because of strong capital inflows, driven by speculation that it will have to revalue its currency.
Countries like China are reluctant to massively revalue their currency - because it would make investing in China much more expensive and could deter valuable foreign investment.
Pyongyang had tried to revalue the currency but because everyone used U.S. dollars to trade, the dollar consistently went up and the won continued to fall in value, he said.
China was under intense political pressure to revalue its currency, but that does not mitigate the disaster this will probably turn out to be for China, the U.S. and the global economy.
They have made some -- they have taken some limited steps, despite the answers, to revalue their currency, and our belief, as you heard Secretary Geithner in here just Friday say, we believe that more must be done.
Congress was not going to be happy unless the agreement produced concrete proposals to revalue the Chinese currency.
If another Middle East country were to revalue or float its currency, assets denominated in that currency would automatically appreciate against the dollar.
The two most widely discussed options are to revalue or to shift to a currency basket (which Kuwait has already done).
He says Paulson could do more to encourage the Chinese to revalue the yuan, particularly because the dollar has been sinking sharply in global currency markets.
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