China's currency move is likely to affect global companies

06/20/2010 | Wall Street Journal, The · Reuters

Beijing's recent announcement that it will allow the yuan's exchange rate to be more flexible is not expected to have a major effect in the near term, but over the long run it is expected to affect companies such as Caterpillar and Wal-Mart. "We believe over time that a stronger Chinese currency will promote more exports from the U.S. to China," said Rich Lavin, a group president with Cat.

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Wall Street Journal, The · Reuters

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