China’s long-term prospects are so strong that even a civil war, an economic collapse or political assassinations would only temporarily delay its emergence as a worldwide economic powerhouse.

While communist China is busy smashing protests in occupied Tibet, the country’s currency, the renminbi, is making record gains agains the US dollar.

China’s renminbi is in the ascendant, reports the Financial Times.

In July 005 the renminbi was re-valued at Rmb8.11/$1. Now it’s close to Rmb7/$1 and has gained some 4% against the dollar since the beginning of 2008.

Is this a sign of a change in policy by the Chinese towards their currency?