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Watch out for the inebriated barmaid |
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16 March 2010 |
Justin Urquhart Stewart is one of the most recognisable and trusted market commentators in the media. Originally trained as a lawyer, he has observed the retail market industry for 20 years whilst at Barclays Stockbrokers and developed a unique understanding of the market's roles and benefits for the private investor.
Justin Urquhart Stewart is one of the most recognisable and trusted market commentators in the media. Originally trained as a lawyer, he has observed the retail market industry for 20 years whilst at Barclays Stockbrokers and developed a unique understanding of the market's roles and benefits for the private investor. Justin provides financial advice to clients of Kester Cunningham John Financial Planning LLP.
The term 'crawling peg' does bring to mind a somewhat inebriated barmaid character out of Eastenders. Forgive me, but I am not a regular viewer. This term over the past week has been cast around by those Beijing watchers trying to read the runes of the inscrutable Chinese leaders at the National People's Congress.
As I have mentioned before, both the Americans and Chinese have whinged at one another about each other's currency policies. In my view both parties have some foundation for a just cause, but seemingly lack any form of appreciation or pragmatism of each other's position.
The Chinese moan about the devaluing $ (until its recent recovery) and especially because much of their reserves are in US$ Treasury Bills. The Americans moan that the Renminbi has not been revalued and as such is ludicrously undervalued and thus had led to the dumping of Chinese goods on overseas markets and the distortion of global free and fair trade.
Sadly this is not helped by the populist rhetoric cast from the battlements of both parties |
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