Adoo; I don't have time to respond to all of your points but to answer one. Yes Japan did peg its currency to the US dollar but it hasn't since 1971. Part of the reason why it was doing so was because the US at the time came off the Gold Standard and devalued its own currency reducing the power of the Yen. The Japanese sought to keep it pegged but found that unsustainable. During the time of Japan's greatest economic strength in regard to the US the Yen actually appreciated very strongly against the dollar so a strong Yen wasn't a weakness and a strong market based RMB won't necessarily be a weakness to the PRC. Also NewYorker, appreciate coming to my defense but Adoo is entitled to his opinion.
