Exchange rates are a rising concern
29 August 2012
China has revalued its currency, which will push the cost of its exports up. Anusha Bradley assesses the long-term effects on procurement
The UK spent $13.48 billion (£7.67 billion) on Chinese imports in 2004, according to the China Britain Business Council (CBBC).
So when China announced a currency revaluation on 22 July, alarm bells began to ring over the pricing effect it would have on the country’s exports.
While the move was interpreted primarily as a way of redressing the huge trade...