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A technical adjustment of the yuan excludes the dollar, leaving the G7 to focus on other issues.
China could be important to your clients' retirement. Without the Chinese stepping up to buy Western assets, markets would go down as investors unloaded assets to finance their retirement. Siegel reflects on the importance of revaluing the yuan and the "cross-movements of capital" from China to the West.
China's economy is advancing and growing fast as it prepares to enter the World Trade Organization this year. In the past 20 years, China has been able to successfully improve its financial systems—a process that took the U.S. about 200 years.
At this time, the modest yuan revaluation is unlikely to have an immediate or large effect on U.S. markets. Future Fed activity and China's own economic growth—in combination with the revaluation—will be more instrumental over time.
The People's Bank of China seeks to dampen speculation it'll be revaluing again anytime soon.
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