After this item, on Friday, about speculation that the Chinese
government might stonewall and refuse even the slightest gesture
toward revaluing its RMB currency; and this news, yesterday,
that at least some "flexibility" will resume, here's a note from
Damien Ma, of the Eurasia Group. He's the one with whom I've had
several video "China Today" discussions, of which there will be
more shortly. He writes:  I think this was ultimately a
political decision, and was in some way a signal of the mutual
leverage between the US and China. There was a time during the
depths of the economic crisis when the currency peg had a
decidedly economic logic, but I think once they saw their 1Q GDP
was growing at 12%, that turned the corner on thinking. The
argument [inside China] had always been between the exporters
and the inflation hawks (the liberal financial set in the
central bank, think tanks, et al). The exporters quickly lost
their support when the emphasis shifted to inflation and
overheating.  Of course, the eurozone