The dollar and euro rose to five-year highs against the yen on Friday.» Read More
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.
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.
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.
American businesses that import Chinese goods face higher prices, but exporters are predicting sales growth. The NYT reports.
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.
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.
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).
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.
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.
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.
China is to blame for the currency tensions as the cheap yuan is contributing to global trade imbalances, says Nobel prize-winning economist Paul Krugman.
Europe's sovereign debt crisis isn't over and will continue to spread, first to Japan and then to the U.S., warned renowned Harvard University professor, Niall Ferguson.
Throwing money at a country in debt will not solve its problems if consumers refuse to spend, said Stephen Roach, non-executive chairman at Morgan Stanley Asia, on why a second round of quantitative easing (QE) from the U.S. Federal Reserve will not work.
Rising tensions amid an escalating global currency war has sparked talk of capital controls, but such a move would be dire for markets, warned Mark Mobius, executive chairman of Templeton Emerging Markets Group on CNBC Friday.
US Treasury Secretary Timothy Geithner will call on emerging nations to show more flexibility on currencies in exchange for a greater say in international financial institutions, a Treasury official told CNBC Wednesday.
The head of the International Monetary Fund has warned that governments are risking a currency war if they try to use exchange rates to solve domestic problems, reports the Financial Times.
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China is absolutely right in resisting calls from the U.S. to revalue its yuan, said Andrew Freris, senior investment strategist, Asia at BNP Paribas Wealth Management, noting that this is a "very U.S. dollar-centric" world.
The global economy will suffer a "couple of financial crises over the next 10 years" as financial reforms are not going in the right direction and not enough is being done, warned Nouriel Roubini, chairman at Roubini Global Economics.
The poultry tariffs are another example of China’s willingness to use its economic leverage when it feels it is being challenged. The NYT reports.