China’s leaders get high marks for deft use of macroeconomic tools to cool growth in the last year, and for maintaining the general fiscal health of the economy despite the non-performing loan problem that plagues the banking sector. But a currency revaluation is not in the offing in the near term – at least so long as speculation continues – and any likely change in China’s currency regime will see an end to the yuan’s peg to the ailing dollar in favour of a link to a more diversified basket of currencies rather than a simple revaluation.