Pegging RMB to a basket of currencies

Comments on Heikki Oksanen "Should China peg the renminbi to a genuine basket?" 29 May 2015

Pegging the Ren Min Bi (RMB) with a basket of major currencies appears to be a sensible approach given China’s economic development and capital account regime.

While many economists may have very strong faith in the floating exchange regime, foreign exchange markets can and do exhibit excessive fluctuations showing bubbles similar to asset markets like stock and housing markets. Excessive fluctuations in foreign exchange markets may indicate some undesirability of complete floating.

Pegging to a basket of currencies increases stability and can reduce the degree of fluctuations.

Funny things with the Chinese currency

This is a short comment (in Chinese) on h8631986j "人民币升值出现拐点？" 23/07/2009, http://www.pinggu.name/space-535507-do-blog-id-16588.html

That article is funny in many ways.

本人不熟悉人民币基点，但感到300点够大的了。如果是真正市场的话，那可能得以千点计算，够吓人的。
自7月16日，至昨日，不过一星期，怎么会是一个多月？
如一个多月才贬300基点，还不如许多货币一天内的变幅，有何可惊讶的？
加上所提到的单线走势，说明没什么市场，或不是市场。
既不是真正市场，有何走向和拐点可谈, 不可笑?