Li Keqiang’s three-day visit to the U.K. got into full swing on Tuesday, with the Chinese premier meeting both the Queen and his British counterpart David Cameron. Deals and declarations were announced, covering trade...
The People’s Daily reports that China approved the creation of a special free trade zone in Shanghai: The project, occupying 28 square kilometers, will center around the Yangshan Deep Water Port and will take more than 10...
With the renminbi in the headlines again last week after the People’s Bank of China set the dollar reference rate at a record high, The People’s Daily addressed the future of China’s currency on Monday: China...
A week after Premier Wen Jiabao opened the National People’s Congress by lowering China’s 2012 GDP growth target, and only a couple days after China announced its largest trade deficit in more than a decade,...
The Ministry of Foreign Affairs on Wednesday commented that yuan appreciation in the near term is out of the question. While the yuan has risen around 30% against the U.S. dollar, Foreign Ministry spokeswoman Jiang Yu asserts...
At Foreign Policy, Arthur Kroeber embarks on an epic overview of political issues surrounding the yuan, from controversial exchange rates to its questionable future as an international reserve currency. He dismisses the popular...
Minxin Pei reports for The Diplomat and tries to discover the complex formula Chinese authorities use to determine exactly how, when and where to extinguish protests. The Chinese government may be cracking down hard on dissent....
Keith Bradsher from the New York Times reports on China’s trade surplus: The Chinese government announced on Tuesday morning the country’s biggest trade surplus in a year and a half, as an unexpected surge in Chinese exports and...
From Caijing Magazine: After months of uncertainty, a pilot program for yuan-based trade settlement took a substantial step forward when the People’s Bank of China, the central bank, recently released new rules for...
From Wall Street Journal: Three Shanghai companies used the yuan to settle cross-border trade deals for the first time Monday, a step toward promoting broader use of the Chinese currency internationally and, over time, reducing...
From Bloomberg: China will allow companies to use the yuan to settle cross-border trade and let them keep their entitlement to export tax rebates, seeking to reduce the reliance of importers and exporters on the U.S. dollar. The...
From Bloomberg: China’s central bank renewed its call for a new global currency and said the International Monetary Fund should manage more of members’ foreign-exchange reserves, triggering a decline in the U.S. dollar. “To...
The New York Times has two op-ed pieces today looking at the power of the renminbi versus the U.S. dollar. From Nouriel Roubini (professor of economics at the New York University Stern School of Business and the chairman of an...
From Reuters: China on Wednesday took a baby step on the road to making the yuan an international currency when it promised to allow its use in trade between a few provinces and neighbouring states. The State Council, or...
Stephen King, managing director of economics at HSBC, explains why the world is following China’s lead by buying dollars, and what China should have done instead. From The Independent: […] the only stuff that is...
From The Times: In with the old and out with the new. That is the cry of a group of Chinese scholars and lawyers who are demanding that Chinese heroes and literary giants be added to banknotes. The appeal by 12 intellectuals...
From The Financial Times: Beijing on Friday approved the launch of China’s first gold futures contracts, with simulated trading on the Shanghai Futures Exchange set to begin on Wednesday. The exchange is expected to begin selling real renminbi-denominated contracts soon after and is preparing for huge demand from the rapidly expanding number of Chinese producers […]
A different take on exchange rate and trade deficit reality from two experts writing in the Christian Science Monitor: It’s true that low-wage Chinese workers have taken jobs from Americans and that cheap Chinese imports have pumped up the trade deficit. But three other factors explain the state of US-Chinese trade: ‚Ä¢The low savings rate […]
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