Singapore is allowing its currency to float upward modestly, using a managed float-system that China is also likely to adopt eventually.When China abandons its peg, they will more likely adopt a Singapore-style managed float-system than a pure float. That was after all the system they had between the summer of 2005 and the summer of 2008, when they temporarily abandoned their pure peg. As Singapore's current account surplus shows, that may not have much of an effect on its surplus. Full Story
