The fact that the Chinese have acted at all is important.But the eventual economic and political effects of the revaluation will depend on how far and how fast the yuan moves from now on.

• 虽然如此，中国官方调整汇率动作的本身就已经十分重要，但最终的政治和经济效应却取决于人民币汇率调整能走的多远，走的多快。