China watchers around the world are alarmed at the significant fall in Chinese stock markets. But Beijing may have a few tricks up its sleeve.
China watchers around the world are alarmed at the significant fall in Chinese stock markets. But Beijing may have a few tricks up its sleeve.
How serious is China about “the introduction of a new reserve currency to replace the dominant U.S. dollar,” one of its proposed steps for creating the “de-Americanized world” that the official Xinhua news agency called for in the run-up to the denouement-cum-deferral of the U.S. fiscal crisis? American commentators’ responses have ranged from the […]
A lot has been said by the major Western news sources (WSJ, Bloomberg, FT, NY Times) about China’s reaction to the downgrade of the U.S. creditworthiness. Although there has been no official comment from Beijing since the downgrade, the Xinhua news agency (the official mouth-piece and the usual government ‘attack dog’ for criticizing the U.S.) […]
‘Is this a currency war or what? Fast-growing nations like Thailand are trying to devalue their exchange rates to bolster their export-driven economies. In Washington, where “strong dollar” has been the mantra for years, policy makers are taking steps that could make the already weak dollar weaker still. These uncoordinated moves among global central banks to weaken their respective currencies is precipitating a global currency war.
U.S. administration officials arrived in Beijing today (Monday) for high-level talks between America and China, Beijing officials sought ahead of the newly formed annual strategic summit to avoid open disagreement on the Democratic People’s Republic of Korea (North Korea) apparent sinking of a South Korean warship, exchange rates, currency reforms and other big issues that divide the two nations.
China’s industrial production and trade surplus posted robust double-digit gains in October, indicating a strengthening recovery in the world’s third-largest economy. China, unlike the U.S. and other western industrial nations, has managed well in the advance of the global economic crisis.
The president of the World Bank said that America’s days as an unchallenged economic superpower might be numbered and that the dollar was likely to lose its favored position as the euro and the Chinese renminbi assume bigger roles.