Chinese Yuan
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The dollar rose against a swath of currencies on Friday, rocketing to 4 1/2-year high against Japan's yen.
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Chinese President Hu Jintao is in Washington this week meeting with President Obama and members of Congress. While the meetings are reportedly cordial, there isn’t much agreement economically. No surprise.
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Despite the public relations reality of the China-US trade deals, the $45 billion is real money, and some high-profile companies are now a lot better positioned in China than they were a week ago.
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The yuan debate has come to the fore again, with Chinese President Hu Jintao in Washington for a state visit. While many critics see the currency as vastly undervalued against the U.S. dollar, the case is far from clear when viewed against other currencies.
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In its own way, China is the biggest supporter of the call to "Buy American, Hire American." China is our third-largest market, buying about $90 billion worth of our goods last year and supporting an untold number of American jobs.
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President Hu Jintao is preparing to visit to defuse tensions with the United States, but he might not be able to keep relations from growing worse. The NYT reports.
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Despite criticism that it grows by keeping its currency weak to boost exports, China is actually increasing its domestic consumption very fast, Jim O'Neill, Goldman Sachs Asset Management chairman, told CNBC.
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The overall financial sector “looks great” this year, said Bill Spiropoulos, CEO of CoreStates Capital Advisors, a wealth management firm.
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China’s foreign exchange reserves surged in the fourth quarter by a record amount while the money circulating within the Chinese economy also climbed more than expected in December, according to government statistics released Tuesday that underline the country’s worsening inflation dilemma. The NYT reports.
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China is nowhere near seeing the end of inflation and the amount of monetary tightening it will have to implement will surprise the markets, Arjuna Mahendran, head of investment strategy at HSBC Private Bank told CNBC Wednesday.
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Growth is too slow and unemployment is kept unacceptably high by surging imports, especially from China and Germany, which enjoy undervalued currencies.
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Ben Bernanke is right. Germany shouldn’t blame easy money in the United States for the world’s woes. Currency mercantilism in China and elsewhere is causing a mess—especially in the United States.
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Currency friction between the United States and China is on a "collision course," as both countries manage two opposing monetary and economic interests, Jim Rickards, sr. managing director at Omnis, a market intelligence firm, told CNBC on Friday.
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Chinese policy makers are striving to curb inflation, but their approach carries risks. For one thing, their plan flies in the face of steps the U.S. has been urging. The NYT reports.
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American businesses that import Chinese goods face higher prices, but exporters are predicting sales growth. The NYT reports.
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When the Federal Reserve announced last week that it would buy $600 billion in Treasury bonds to help bolster the economy, it quickly came under attack from Germany, Brazil and China. But the Fed’s plans earned a hearty endorsement from at least one foreign trade partner — India. The NYT reports.
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China’s commodities exchanges do not yet play a global role and they are limited by laws banning foreign participation as well as China’s renminbi capital controls. The FT reports.
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Fears of a "currency war," in which countries devalue their currencies to gain a trade advantage, dominated headlines last week ahead of the weekend meetings in South Korea of the finance ministers from the 20 leading economies that make up the Group of 20 (G-20).
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A decaf latte with skim milk and artificial sweetener is called, in some places, a why bother. No caffeine, no fat, no sugar—why bother? It would be too much to say the meeting of the G20 finance ministers this past weekend was a complete why bother, but, in my eyes, close to it.
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The currency wars that are dominating the attention of the world’s central bankers are also playing out in the niche world of luxury goods.
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China's move to raise interest rates can serve both as a sneak preview to what might happen when other central banks start down the same road, and as an assurance that the Federal Reserve is nowhere near that point.