Via the Wall Street Journal - the International Monetary Fund is close to declaring China's yuan fairly valued for the first time in more than a decade
The fund's reassessment of the yuan-set to be made official in IMF reports on China's economy due out in the coming months
Follows years of IMF censure of Beijing's management of the currency
"It takes the rug out from under the feet of U.S. critics of Chinese currency policy," said Eswar Prasad, a Cornell University economist and former China official at the IMF. "The U.S. relied to a significant extent on what was seen as the IMF's objective assessment."
