Ruskin said he sees China's recent moves to scale back bank lending as a sign the country could move toward using exchange policies as another tool to tighten monetary policy and fight inflation.
These semi-official comments from a Chinese Minister could indicate that
WSJ discusses one off appreciation versus gradual
So the alternative is to do it all in one bang. To be sure, a one-off sharp revaluation would strike a major blow at
Either way, doing nothing and so indefinitely postponing a more violent, involuntary bursting of the bubble is the worst option.