From Econbrowser: The Renminbi (RMB) is probably undervalued, according to some criteria. Would adjusting it fix the US-China trade deficit? Or the overall US trade deficit? China looms large in the world economy. There is lots of talk about Treasury Secretary Paulson pushing more deftly to achieve greater RMB appreciation. In my view, if he’s […]
Read MoreFrom Bloomberg: China permitted the biggest gain in the yuan since ending a peg to the dollar in July last year, a day after allowing the largest decline, suggesting the central bank is easing controls over the exchange rate. The yuan rose as much as 0.24 percent against the dollar today, as 13 of 15 […]
Read MoreFrom The Wall Street Journal: China’s government said industrial-production growth slowed slightly last month, amid tentative signs that Beijing’s efforts to cool the economy may be taking hold. Growth in industrial production, which measures the output of everything from cars to steel, softened to 16.7% in July from a year earlier, compared with 19.5% in […]
Read MoreFrom BusinessWeek: Not so long ago, Suzhou was known as a sleepy city of gardens, temples, and canals. A favorite on the tourist circuit, it was basically a business backwater. But over the past decade Nokia, Samsung, Philips, Dupont, Emerson, Honeywell International, 3M, Bosch, and Delphi have poured billions of dollars into Suzhou, making it […]
Read MoreFrom the Wall Street Journal: Shaquille O’Neal has a new shoe deal — in mainland China, where basketball’s growing popularity has turned the country into the next battleground in the global sneaker wars. The National Basketball Association star announced the deal yesterday with Chinese sportswear brand Li Ning, which turned the story of a 1980s […]
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