From Mineweb:
We heard China's economy was going to be the same size as the U.S. economy by 2016. This is considerably faster than U.S. economists thought would be the case just two years ago. At the speed China is growing, it will dwarf the U.S. by 2020.
The encouragement the Chinese government has given to the development of the gold market there and the direct incitement to buy gold tells us this is a long-term policy. It also tells us the Chinese would not favor a significant rise in the exchange rate of the yuan, particularly against the dollar, because this would lower the gold price in the yuan. So what will the Chinese gold market look like in 2020?
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