Chinese whispers frighten currency markets
From the Financial Times: “The dollar fell to new lows on Friday on rumours that China might shift some of its currency reserves away from the greenback, highlighting the dollar-related jitters in...
View ArticleSlow FX Inflows by Separating Gas and Fire
Wang Tao, an economist from Bank of America, writes on slowing foreign exchange inflows, the weakening dollar and Yuan rate revaluation. From Caijing.com.cn: By closely linking the yuan with a sharply...
View ArticleChinese Firms Bargain Hunting in U.S.
From the Los Angeles Times: Liu Keli couldn’t tell you much about South Carolina, not even where it is in the United States. It’s as obscure to him as his home region, Shanxi province, is to most...
View ArticleFirst the Chinese Accumulated Dollars, Now Everyone is Joining the Stampede
Stephen King, managing director of economics at HSBC, explains why the world is following China’s lead by buying dollars, and what China should have done instead. From The Independent: [...] the only...
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Geoff Dyer: China’s Dollar Dilemma
From The Financial Times: The flotation of Blackstone in June 2007 has already gone down as one of the symbolic events in America’s financial bubble – the end-of-an-era deal when some of Wall Street’s...
View ArticleChina Calls for New Reserve Currency to Replace Dollar
China has proposed a new international reserve currency, indicating its doubts of the dollar’s strength. From Financial Times: China’s central bank on Monday proposed replacing the US dollar as the...
View ArticleU.S. Vows To Sustain Dollar’s Dominance
Following release of an essay by People’s Bank of China governor Zhou Xiaochuan calling for a new international reserve currency to replace the U.S. dollar, U.S. Treasury Secretary Timothy Geithner...
View ArticleSign of Strength or Evidence of Weakness? China’s Dollar Reserves
From the Council on Foreign Relations blog: At key points then, China shied away from the decisions that would have allowed it to avoid accumulating so many reserves. China’s leaders probably didn’t...
View ArticleNouriel Roubini & Victor Zhikai Gao: The U.S. Dollar vs. Renminbi
The New York Times has two op-ed pieces today looking at the power of the renminbi versus the U.S. dollar. From Nouriel Roubini (professor of economics at the New York University Stern School of...
View ArticleThe Demise of the Dollar？
The Independent published an allegedly “exclusive report” by Robert Fisk that several countries, including China, Russia, Japan, France and Gulf states had met secretly to find ways to stop using the...
View ArticleRobert J. Samuelson: China’s $2.4 Trillion Grip on the Global Economy
Columnist Robert J. Samuelson writes in the Washington Post: China disclosed the other day that its foreign exchange reserves had increased to about $2.4 trillion in 2009, up $453 billion for the year....
View ArticleChina Yuan Up Late On 5th Straight Record-Low Fixing
After six continuous days of increases, the Chinese yuan has reached a new high of about 6.54 yuan to 1 dollar, closing the week off at a record high. From Wall Street Journal: China’s yuan rose to a...
View ArticlePBOC Fixes Yuan Mid-Point at Record 6.4990/Dollar
Another day, another milestone for the yuan appreciating against the dollar. For the first time, the People’s Bank of China has fixed the value of the yuan at less than $6.50. From Reuters: The...
View ArticleChina Official Media: U.S. Woes Threaten Global Recovery
Reuters reports the chorus of disapproval at the state of Western nations’ finances from Chinese state media including the People’s Daily and Xinhua: “It must be understood that if the U.S., Europe and...
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