HONG KONG - October 26, 2009 - As the dollar continues to weaken, concerns are mounting in much of Asia over another descending currency: the Chinese yuan.
For more than a year, China has kept the yuan largely unchanged against the dollar. So like the dollar, the yuan has been falling steadily against the currencies of China's neighbors, including the Malaysian ringgit, the Indonesian rupiah and the South Korean won. That makes goods produced in those countries more expensive compared with China's.
"If you have one large economy in Asia lock itself against the U.S. dollar, everyone feels pressure," says Frederic Neumann, Asia economist ...
