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Being the junior member of the WTO, China faces increasing international pressure in its yuan (CNY) exchange rate against the US dollar. The current exchange
Being the junior member of the WTO, China faces increasing international pressure in its yuan (CNY) exchange rate against the US dollar. The current exchange rate is CNY 6.5601/$. In his private meeting with President Obama, the then Chinese President Hu Jintao had suggested an exchange rate of CNY 5.9367/$ as a possibility in the next five-year term. What is the percentage change under this proposal by President Hu Jintao? Express your response to the fourth digit after the decimal point. (Example: 12.3456%)
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