Forexyard, 4 Nov 2009
BEIJING, Nov 4 (Reuters) - China should unshackle the yuan from its dollar peg and follow Singapore's lead in targetting a basket of currencies to determine its exchange rate, Merrill Lynch's China economist said on Wednesday.
Linking the yuan to the dollar had done China more harm than good over the past two years, attracting both hot money inflows and international criticism, but a sudden shift to a fully market-determined exchange rate was off the table, Ting Lu said.
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