Investors give their take on renminbi reform

The consensus is that China's June announcement on renminbi reform changed very little and was more of a symbolic move to relieve international pressure. But any move by China -- particularly one with such major global implications -- can hardly fail to affect the markets, particularly on a long-term view. On June 19, China announced a shift in its exchange-rate regime, moving from a fixed peg at 6.83 renminbi to the dollar back to the crawling peg that had been in place from July 200…