As Chinese citizens stayed home over this Lunar New Year holiday amid concerns about the coronavirus, several major cities were busy doling out fresh handouts of China’s rapidly developing central bank digital currency. At...
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...
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...
An Op-Ed from Bloomberg News aggregates some of China’s Netizens’ reaction to the U.S. Currency Exchange Rate Oversight Reform Act. The commentary ranges from uncertainty to warnings of the macroeconomic implications...
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...
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...
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...
U.S. Treasury Secretary Timothy Geithner arrived in China this weekend, where he will meet Monday and Tuesday with some of China’s highest officials, including President Hu Jintao and Premier Wen Jiabao. These are...
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...
From the Council on Foreign Relations blog: At key points then, China shied away from the decisions that would have allowed it to avoid accumulating so many reserves. China’s leaders probably didn’t intend to accumulate $2...
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...
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...
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 […]
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 […]
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, […]
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 […]
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 […]
Click on the image to download Firefly for circumvention
CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.
