June 12, 2012
The American Public Media radio program Marketplace quoted Greg J. Mastel, senior international trade/tax advisor, on the increasing strength of the Chinese yuan in a segment entitled "IMF says Chinese currency a little stronger." The article addresses the implications of the yuan's approximately 7% increase in strength against the dollar. Mr. Mastel was quoted saying, "It has appreciated moderately. You started from a really low level. And I think there's still good evidence that its significantly undervalued." The program goes on to point out that, according to Mr. Mastel, "Beijing bureaucrats, not markets, continue to set the Chinese currency's value."
To listen to the segment or read the transcript, please click here.