4.over the past year, china has experienced an inflation rate of about 22 percent, in contrast to u.s. inflation of about 3 percent. at the same time, the exchange rate has gone from y8.7/u.s.$1 to y8.3/u.s.$1. a.what has happened to the real value of the yuan over the past year? has it gone up or down? a little or a lot? b.what are the likely effects of the change in the yuan's real value on the dollar profits of a company like procter
