Under-Valuation
An exchange rate is normally considered to be undervalued when it is below its purchasing power parity.
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Under-valuation:
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My understanding of macro-economics tells me the following: China's Under-Valuation of Yen Policy already exposes WMT (and all of us) to increased risks of real internal Chinese renminbi inflation.
 See also: Rate, Valuation, Undervalued, Market, Position
  
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