China to revalue yuan this year, predicts former Party senior official

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Zhang Wei (l) with former premier Zhao Ziyang in 1987

China will revalue the yuan by 4% or 5% in 2010 because it has no choice, according to Zhang Wei, lecturer in Chinese economics at the University of Cambridge and a former senior official in the Chinese Communist Party.

Zhang argues the size of China’s trade surplus since 1994, the year it devalued its currency against the US dollar, is living proof that the currency needs a hike against the greenback.

In the 1980s Zhang was a Party protégé of three Chinese cabinet ministers and was put in charg

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