Which I’m ashamed of, because my father was an expert on the subject. He’s gone now, so I have to turn to readers for help. I understand, I think, how China can peg the value of the yuan the dollar and thus fix its rate of exchange, but what does it do to make the rate flexible? How does that work?
If anyone wants to write a foreign currency guide for dummies I’d sure appreciate it, and I’ll bet I have other readers as clueless as I am.