Paris, June 8.
Commenting on the decline in the value of the Chinese national dollar, the Agence Economique et Finan-dere pointed out that the level of the Chinese currency had become more or less artificial, The resources of the Chinese Exchange Stabilization Fund have been seriously depleted, the paper added.
The Chinese authorities, in abandoning the policy they have been following up till now, seem to be intending to let the currency find its new level although in no way Prepared to abandon support of the Chinese dollar.
City circles in London will welcome ihe Chinese Government's decision, the paper continued. It-is believed that it will encourage China's exports and halt the flight of capital.
London gives no credence to the American version that China's deci-
Sion was a political manceuvre against Japan. There is no need, it is said, io attack the Japanese monetary system in North China since it has Virtually collapsed already.—Havas.
Text read from the printed page and cleaned; old type leaves the occasional error.