At Davos, China suggests the rest of the world to respect its economic reform and advise them to clean their own houses first. US lawmakers claimed that the yuan, or renminbi, is unfairly undervalued, which undermining the competitiveness of American companies. Few weeks ago top US financial policy [...]
Posts Tagged ‘Yuan’
June 13th, 2012 - 10:38 am § in News Of Economy
G7 mounts pressure on China for greater flexibility of yuan
The Group of Seven (G7), leading industrial nations, has mounted pressure on China to relax control over its currency. In the recently concluded meting of finance ministers and bankers from advanced industrial countries serious concerns were raised over Chinese and Japanese currency for being underv[...]
May 12th, 2012 - 1:25 pm § in News Of Economy
China wields the yuan over poor nations
China’s wooing of the underdevelpoed world continues at an aggressive pace. China’s yuan diplomacy has proved to be extremely effective with Pakistan and Africa. Now, the same policy is being pressed in backward nations in Asia such as Myanmar and Bangladesh.[...]
April 27th, 2012 - 12:23 pm § in News Of Economy
China loosens banking regulations
China Banking Regulatory Commission (CBRC) has stepped on the path of liberalization in banking sector by announcing a new policy on Friday. China has decided to allow its commercial banks to buy stocks abroad. In a move aimed at curbing the rising liquidity and check soaring forex reserves in the c[...]
April 20th, 2012 - 9:51 am § in News Of Economy
American furor against China
The situation is getting increasingly tensed between China and United States. And the reason is nothing but bilateral trade. Yuan’s under-valuation is becoming tough barrier for US exporters. In 2005 China discontinued it Pegging policy of Yuan against US dollar. And opted for Crawling Peg sys[...]
April 19th, 2012 - 9:33 am § in News Of Economy
Bush to China: Eat ‘U.S. Beef’
At the end of the high-level economic talks between Chinese and U.S. officials, the one thing that bothered President Bush most was the ‘beef’. After a meeting with visiting Chinese Vice Premier Wu Yi, Bush said that he was really disappointed that China was unwilling to concede on the i[...]
April 6th, 2012 - 5:57 am § in News Of Economy
China’s trade surplus mounts to a record high
China’s trade surplus surged 85.5 percent in June, to a monthly record of $26.91 billion, potentially heightening tensions with the United States and Europe on Yuan’s market value. Exports for June jumped to $103.27 billion, whereas imports were $76.36 billion. For the first six month of[...]