Yuan Gets More Room to Float
China’s central bank will expand the daily yuan trading band against the dollar. The announcement came after first quarter economic data that China’s gross domestic product growth had slowed to 8.1%. From China...
Yuan rate
Internationalization of the RMB by 2040?
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...
CDT Money: More Signs of a Slowdown
Despite suggestions last week that the yuan exchange rate had reached equilibrium and hints of possible liberalization in its trading range, officials at the People’s Bank of China set the yuan’s U.S. dollar...
G-20 Sets Yuan Policy Aside
Normally in the cross-hairs, China’s exchange-rate policy received a free pass as Europe’s debt crisis took center stage when the Group of 20 met over the weekend in Mexico City. From The Wall Street Journal: While...
Top Ten CDT Stories of 2011
We have compiled a list of the top ten most-read CDT posts for 2011. Not all of the stories were posted in 2011 but they all got a lot of traffic last year. The list covers a number of hot topics: Tibet, Xiao Yueyue, the Wenzhou...
"Washingtonomics" and the Irrational American Buyer
In Forbes, Baizhu Chen of USC’s Marshall School of Business questions the logic of Americans insisting on paying higher prices for Chinese goods: The argument is that this is good for the U.S. economy because cheap Chinese...
China Takes Center Stage in U.S. Election Dialogue
With next year’s U.S. presidential race already in full swing, Republican hopefuls have much to dispute but one clear point of agreement: China. The Wall Street Journal analyzes the latest aggressive criticism from U.S....
Exclusive: China Launches Lobbying Push on Currency Bill
With the U.S. Congress debating a bill that would impose tariffs on China for undervaluing the yuan, the Chinese government has launched an unprecedented lobbying effort to influence U.S. policy, Reuters reports: A 12-member...
U.S. Senate’s Bill on Tariffs Angers China
The New York Times reports on a bill before the U.S. Senate that would impose some tariffs on China in response to their unwillingness to revalue their currency: The Chinese objections came as the Senate began debate on the...
U.S. Groups Urge Congress Reject China Currency Bill
A coalition of 45 U.S. business groups have rejected Congressional efforts to pressure China to raise the yuan rate. From Reuters: “We agree that China needs a yuan exchange rate that responds to trade flows and that China...
U.S. and China Agree to a Process to Analyze Risks in Economies Worldwide
The U.S. and China have both agreed to participate in an international process that will evaluate the risks that major economic powers pose to global development. The New York Times reports that China is the primary target in...
Yuan Advances Beyond 6.6 Per Dollar for First Time Since 1993 on Inflation
Bloomberg reports on speculation that the Chinese government will allow the currency to rise in order to tame rising inflation: The yuan strengthened beyond 6.6 per dollar for the first time since 1993 on speculation China will...
Paul Krugman: We’re Not China
In the New York Times, Paul Krugman argues against comparisons between Europe’s complaints about a weak dollar and U.S. complaints about an undervalued yuan: What the United States is doing is an expansionary monetary...
Currency Rift With China Exposes Shifting Clout
The New York Times reports: Over seared scallops and beef tenderloin, Treasury Secretary Timothy F. Geithner urged his counterparts from Europe, Canada and Japan to help persuade China to let its currency, the renminbi, rise in...
US Jobs: In China Trade Fight, Does Protectionism Help, or Hurt?
The Christian Science Monitor looks at the simmering dispute with China over its currency from the perspective of American workers: The bipartisan support of Maine’s paper industry illustrates a shift in attitudes toward...
Paul Krugman: Taking On China
Nobel laureate Paul Krugman writes a column in support of the recent bill passed by the House of Representatives calling for stronger action against China for not raising the value of its currency: Diplomacy on China’s currency...
Obama, Wen Pledge Cooperation as U.S. Congress Pushes for a Stronger Yuan
Despite rising impatience in the U.S. over China’s inaction on exchange rate reform, Premier Wen Jiabao and President Obama pledged to work together to help solve the global financial crisis. From Bloomberg: In remarks to...
U.S. House Panel Will Weigh Measure on China’s Yuan as Trade Deficit Grows
From Bloomberg: The U.S. House Ways and Means Committee said it will meet Sept. 24 to consider legislation to push China to raise the value of its currency. The committee said today in an e-mailed statement that it will consider...
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