| 1 | The yen hit a record high in trading today. | |
| 2 | The yuan bulls may well be right - there are many strong arguments for appreciation. | |
| 3 | A one-off revaluation, on the other hand, could stem such inflows but would hit exporters hard. | |
| 4 | Nevertheless, real estate is still an investment product with great potential in light of the strong expectation for RMB appreciation. | |
| 5 | Such a stimulus program coupled with a gradual appreciation of the renminbi would go a long way toward correcting the prevailing imbalances. |
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