With the HK dollar pegged to the US dollar - one of my clients had a very interesting experience at the bank in China the other day - for the fist time that i know of ever, when changing HKD into RMB he was offered the rate of RMB99.65 for every HKD100! Astounding!
The real downside of this however, my exports from China are 3-4% more expensive now than they were 3 months ago - and every day i get calls from Buyers (especially in the US) trying to squeeze my prices more and more....they don't seem to grasp the concept of the dollar losing value and its repercussions around the world! On some of my pre-committed contracts to chain stores in the US, i'm already losing 1-2% after factoring in all the costs!