Writing today for Bloomberg in a piece about current accounts and currencies, Greenspan or Buffett? Asia Mulls Who's Right, columnist William Pesek Jr. showed a keen grasp of foreign exchange markets:
It's widely expected that a yuan revaluation will result in a stronger Chinese currency.
So now you know.
UPDATE: Tim Worstall evidently liked my suggested title of the Bleedin' Obvious Award. If you see any other prize examples, please email them to me. Preferably economists and economic/financial journalists - as politicians say the bleedin' obvious every day!
This post contains a copy of my post on Worstall's site, being itself largely a quotation of a post of mine at ..well, it says. All clear?
"And did I not post on the Freakonomics blog the other day
'"it is actually that they are both caused by long ago implemented institutions that fostered both democracy and strong economies": does one really get prizes in economics for rediscovering the bleedin' obvious?' It would seem that one does now."
Posted by: dearieme | Wednesday, May 04, 2005 at 04:31 PM