The 1st round, China lost! Although it's expected anyway.

Crap, the day before yesterday, the report of military power for China came out, early today, China revalued its currency although Greenspan has given his testimony to the congress saying that even 20% appreciation won't solve the American problem of trade decifit. Furthermore, because of high reservation of US dollar in China's central bank, this small appreciation of RMB has caused China's central bank a loss of billions of USD! Still Chinese government decides to compromise ....... after the textile deals with EU and US, now the currency deal, what's next? Shoe deals? That's what China want after joinning WTO? Oh, No!