China “Ready to Work” with New French President
China’s Foreign Ministry has said it is “ready to work” with France’s new Socialist president, François Hollande, but Beijing is viewing his election with some wariness. From AFP: Foreign ministry...
euro
China and Merkel do Diplomatic Euro Debt Dance
German Chancellor Angela Merkel is in China, sowing potentially advantageous diplomatic relations in the midst of the EU’s current economic situation. An article from NBC News’ Behind the Wall explains how, in...
China's Thin Margin for Error in Property Policies
Amid growing concerns about the economy and the collapse of the Euro, there are added worries that China’s campaign to deflate housing prices will go too far. While Beijing has eased credit policies to regulate inflation,...
Struggling Stewardess Scuppers Serious Scrap-Smuggling Scam
Authorities in Frankfurt have uncovered a €6-million Sino-German fraud operation involving the illegal reassembly of scrapped coins. €1 and €2 coins consist of two concentric parts, which are separated and shipped to China as...
ECB Study Warns on Renminbi Peg
European Union and the United States pushed China for a flexible currency system for a long time. Regardless of Yuan undervaluation question, European Central Bank focuses on the financial risks when RMB pegs to the weaken...
China, EU Gain Little Ground In Discussions on Currencies – Terence Poon and Victoria Ruan
From Wall Street Journal: Chinese and European Union leaders Wednesday agreed that trade imbalances between the two sides were unsustainable, but wrapped up talks without finding common ground on the issue of the euro’s rise against the yuan. The conclusion of the annual EU-China Summit in Beijing looks unlikely to ease pressure on the yuan […]
EU to Pressure China on Currency – BBC News
From BBC News: The European Union (EU) is expected to pressure China to allow its currency to strengthen more quickly at a bilateral summit in China this week. The weak yuan has buoyed exports to Europe, which has seen its trade deficit with China soar. “We will have a large tour d’horizon on all matters, […]
Revalue Renminbi to Rebalance Trade, Says EU – Tony Barber
From The Financial Times: China should revalue the renminbi to boost domestic demand, remove obstacles to banking reform and cool an overheating heavy industry sector, Peter Mandelson, the European Union ‘s trade commissioner, said on Thursday. In a speech in Washington that highlighted the EU’s growing concern over China’s currency management and commercial practices, Mr […]
China’s Hint on Euro Drives Stocks, Dollar Down – Neil Irwin
From Washington Post: The value of the dollar fell sharply Wednesday, as did the stock market, after the Chinese government signaled that it may slow its purchases of U.S. assets. The Dow Jones industrial average plummeted 361 points, or 2.6 percent, as the dollar fell to an all-time low relative to the euro and was […]
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