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	<title>China Financial Markets &#187; William Cline</title>
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	<description>Michael Pettis&#039; finance blog...</description>
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		<title>Can the RMB be more undervalued today than it was last year?</title>
		<link>http://www.mpettis.com/2009/06/23/can-the-rmb-be-more-undervalued-today-than-it-was-last-year/</link>
		<comments>http://www.mpettis.com/2009/06/23/can-the-rmb-be-more-undervalued-today-than-it-was-last-year/#comments</comments>
		<pubDate>Wed, 24 Jun 2009 06:57:19 +0000</pubDate>
		<dc:creator>Michael</dc:creator>
				<category><![CDATA[Currency regime]]></category>
		<category><![CDATA[Trade protection]]></category>
		<category><![CDATA[John Williamson]]></category>
		<category><![CDATA[William Cline]]></category>

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		<description><![CDATA[William Cline and John Williamson published on Vox an interesting piece earlier this month June 18), titled “Equilibrium Exchange Rates,” in which they try to “estimate a set of medium-run fundamental equilibrium exchange rates compatible with moderating external imbalances” for the 30 largest economies. They assume that a sustainable equilibrium trade balance for the US [...]]]></description>
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