ECONOMIC

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-00809A000600200470-9
• Release Decision: RIPPUB
• Original Classification: R
• Document Page Count: 2
• Document Creation Date: December 22, 2016
• Document Release Date: June 29, 2011
• Sequence Number: 470
• Publication Date: December 15, 1948
• Content Type: REPORT

Sanitized Copy Approved for Release 2011/06/29: CIA-RDP80-00809A000600200470-9
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NO. CF PACES
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T'-11S iS UN 'it.UA ['G INFORMAT IO1': FOR TFt
USE O' Tf'P, NEU INTEI_UGENCE ANAL ST5
SOURC IDENTIFICATION ki31 MW 'fir: itn Yta?t=ta~J t,c:ert:u1 dank N-athly), Vol III,
yF-19 . (1-;.ommtion or3ci::`oa ly racuezted..)
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Tefh1' MW C LjjPE ` C? :;I?~TC/ _: ND ! PRr MPTI 'A% FUP
A. ::ncroc'.uoticn
5'ith the refota+ of tyre r.Urnmcy, V. mw errs in roilc.ticn tc torn ex-
ohem ? began. China, at a xl:^Pbor of t e 7sttersn.laral Mmotag; :rind? hao
aocopted her gteota and aprointed for directors', it h- caut1o of occnoaw?o in-,
otebiiity and ?rtok of Mod exchm>eo rater; em of raaro in ito crorationo.
This is much to her disadv;rtage. Now with a rn ular rate aettlae, all that
in noeded is the ;T%md'o pr;.,litieaiae for her to e1tErg+ in its dut:oe and priv-
ileieu.
TIP chief ruin of the 'u_:td 1U to autintain r.tble ore A?'LteE. Bcr:-
eroer, a member ration rey ?,it:r th- Flnd'aa con-mt, sho ' :La 1:to vcu a of
its imrszcy, but the Fun:'. r.Fay rro: ohenE,+F th9 e3? vsiuo of a r.tr,D.or'. o'1r-
Nm0y, l2Dlems that na+:ion ~%at'.C1Q'a.
Thts provision is im;eswi3d to px3reat u_:ilat-ora?, notion et;rt. ~to tata
plainly that repudiation i.s an excRp"cio:sa-i.:net :tre. Feat t:e Fur.e, rJ;y ~u,rmt
alloy:; rnbol: liberty to th-. `.ndiroidual ant .t n, e.,peciall,, in thrt j,c'stvar
transition period.
This flexlbilit, Is it real Lonefit to s a; this tiie. bt.t it =tat be
retmmbered that atabilit, of a ,1mga io at-Ail tht ei11nf aim of the Fund..
The stabilization of the foreign vdltoe of our c?xvzcnsy in still e. weighty
problem, and an impar':,arr.i kr,y ac 4 other Gina c 't E'at 7rtot .aaistsnoo.
Ea the exc''dnge va:;us of tho ec' c;ir anc~ co,-raet" kid i:nw cam the
esebanga value be revir.ed to fit t: cit_nCinv c:~aijt_o::e of the itrtea+atic
?nmmyt Berm art a i?sw oncidem. ticnc whici' air ti:-7 cc-tnae .t2 of t%to
:+ ?i'h a:.,)L=,nEe val;ta of t;i, mw csr^,ca: ;e::crally i.'O1.'?:-.tii is fr.te
asrI , ?o' lSta ;: Ealf. bars. Oafo_-, t 3 ?I:o~'3 i.-ic aa2 a certr't.r
'S.i _Y~~c~rl?,-~ NEf^ r-~ C;'Ti2fBU11GN
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STAT
Sanitized Copy Approved for Release 2011/06/29: CIA-RDP80-00809A000600200470-9
 Sanitized Copy Approved for Release 2011/06/29: CIA-RDP80-00809A000600200470-9
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RES; c ~
i~c.t`~C:Yfl the lsr::ce .of. E;:).;.d r,rtt nzut Ga' Oc mcd w -'in hr 711 r ~AC:ik :1.!'-.
~k'i3r3 .a qld a $. C1 YJ i:31~ ai;w o~C^ ab Cs
-to real bu, fn&; ;pCeror. IY is sue[ be ::'ee .-ii,. a ^ J c, ua: isacic ~ ,!1 y
2. A ctui;S cl the. dmAAic price level r r A no -l" 1:3 `t22r?t r;iert from. that
of dos and flflt.ted eatrarnoy, El.t_:--s? priae;r cor `u-:t b,, rioiec
to orxrc ut the deterioration of Cft ng'r, ici .i' tieeoce rl zt v- u:+dlife a
e.tter to secsitice ext;~tes e Otability nc~
fa reex34int, 'JOIiFme7, !:. ,1'ipt T^v ii or n:,: the forr:t r r9 :rwLU:1 dfgclt3efC31-
V a twig price at.st be I'eid :.n ia!eugsl=a laav, for a z?a:o-fixa!8 pO?SCya
'.1tabi?:12atiCf f1vU lC bn e'cic etl, c'teirr'ti'+cQ ,.. 'r.te: cre trod!. i:.?: OeCee't%,7?
!s, The a1r! Lich, of ;anted d-ui t fcr Ca', c ;~z 3dtcata (aad her decant fcr
31o. 'c 17 di%%iault tO foreC t, Yfit the a^e as ?red forces 'cet? eea e,ipIii'
wrrladrs)
toed 8ai' ad csr:s' poterful fcotara in &.OA .re 1 r1.s:tivR, e:>a:;anae mlixor, rs -ex,
ful ,.htve .?k:^ buyi,:g pote,x 1e rH1 A) '!r Of uvlr ] y v OW gc".a
cP.rkota nsv er"Ce becO1111e Of r akorte of ias;xx le~..f OL currency reserve: Ttt:fl
x1311 .4ujuro bar tY: da msi.tiua end n^:ul.y dtie7,. c .,:h2:::p0 14ac' of 10': oUl'
ranoy. 4'herefox's, aeor artk2o& .uf;t be enpi.o"'I_ to 'nprtr.e har poe_ttion Li
5s te%natiO "l. 'CY'?ide.
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