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China’s Digital Currency Development Picks Up Speed

This week, Shenzhen’s government announced the rollout of one of the largest real-world trials of China’s fledgling new digital currency. The announcement came at the same time that Xi Jinping visited Shenzhen, where he laid out...

Japan and China Bypass US in Direct Currency Trade

Tension between China and Japan over the East China Sea has not stopped them from developing trade between the two countries. The Asia-Pacific Journal reports that Japan and China started direct trading of their currencies on...

U.S. Backs Off in Currency Dispute with China

The U.S. Treasury Department has postponed its announcement on whether China is a currency manipulator. From Reuters: The Obama administration backed away on Friday from a showdown with Beijing over the value of China's currency...

The Renminbi Runaround

In an opinion piece for the New York Times, Nobel prize-winning economist Paul Krugman criticizes China's currency valuation: Last weekend China announced a change in its currency policy, a move clearly intended to head off...

Treasury’s Geithner: Durable Economic Stability

U.S. Treasury Secretary Timothy Geithner spoke to reporters on his way to Beijing on Saturday, the first day of his highly-anticipated first visit to China.  From MarketWatch: "We are seeing more durable stability in the economy...

US Bill to Punish China Faces an Uncertain Future

Growing U.S. dependence on China in such grave matters as pressuring North Korea to return to disarmament negotiations and stabilizing the world economy may make the Obama administration hesitant to confront America's largest...

Ben Simpfendorfer: China’s Yuan Ambitions

From the Wall Street Journal: China is playing a growing role in discussions over solutions to current economic problems. Much of the talk has focused on money -- whether Premier Wen Jiabao's concerns about the value of China's...

China and the Dollar

From the Wall Street Journal: As if the dollar didn't have enough problems, Timothy Geithner took China's bait yesterday and said he was "quite open" to its suggestion this week to displace the greenback with an "international...

The World’s Most Expensive Club – The Economist

From The Economist: China’s investment in Blackstone shows how government investors are flourishing at the heart of the financial system With $1.2 trillion in foreign-exchange reserves and the pool growing by more than $1 billion every day, China casts a giant’s shadow over the global financial markets, even if it has mostly used the money […]

China aims to spend $200bn of reserves - Zhou Jiangong

From Asia Times: The Chinese government is taking action to implement a new policy of diversifying the disposal of the country’s over US$1 trillion foreign exchange reserves which was initiated by the Central Conference on Financial Affairs three weeks ago. The Ministry of Finance (MOF) is planning to issue yuan-denominated bonds to raise funds that […]

Beijing heavy hitter takes aim at revaluation’s backers – John Garnaut

From The Sydney Morning Herald: The newest member of the Chinese monetary policy committee will today launch a stinging attack on those calling for a major revaluation of the yuan. Fan Gang, a Harvard-educated economist who this month joined the People’s Bank of China committee responsible for advising on interest rates and exchange rate settings, […]

Internationalization of the RMB to be accelerated – Hu Zuliu

From The People’s Daily: It is an indisputable fact that China has become the world’s major economic power. Based on market exchange rates, the size of China’s overall economy is already the world’s fourth largest, accounting for one sixth of the US economy and one second to two third of Japan’s economy. If calculated in […]

Richard McGregor: Rumours on revaluation of renminbi increase

From the Financial Times: China’s currency traded briefly outside its tightly controlled band on Friday, triggering a renewed wave of speculation that the government was preparing to allow a long-expected revaluation. The unexpected price move followed weeks of international pressure on China to allow the renminbi to appreciate. But the People’s Bank of China, the […]

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