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  • October 25, 2014
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  1. Five reasons yuan is no threat to dollar as reserve currency

    Posted Feb 10th 2012, 12:00am

    ... Tom Holland tom.holland@scmp.com If I had US$100 billion for every time someone has told me that the yuan is going to displace the US dollar as the world's foremost reserve currency, I reckon I'd have almost as much in foreign reserves as China. Yet I remain sceptical. For the yuan to become a major reserve currency, China will first have to fulfil several important ...

  2. The ruinous costs of China's 'free-ride' currency policy

    Posted Oct 11th 2011, 12:00am

    ... currency. In Beijing, officials are indignant with outrage. Forcing China to appreciate its currency will benefit no one, they insist. But although they may well be right to argue that more rapid yuan appreciation will do little to support economic growth in the US, there is one country that would gain from a stronger yuan: China. The US politicians who support the Currency Exchange ...

  3. The rise and fall of currencies

    Posted Jan 14th 2008, 12:00am by Sophie Paine

    ... certainly keep telling myself 'expensive, so expensive'. Why is the exchange rate so unfavourable to us? The exchange rate is the price of a currency compared to another. Currency rates keep changing. The foreign exchange market - the market where currencies are sold and bought - is one of the most active financial markets with over HK$20 trillion traded every day. Most ...

  4. Weak currency to blame for rising labour costs

    Posted Apr 07th 2008, 12:00am by Jake Van Der Kamp

    ... separate currencies must adopt ways of controlling the amount of money washing around in their economies to keep their currencies sound. This is just another way of saying that they all have ... a complete hash of managing our own currency and in 1983 had to stop trying to do it and instead adopted a rigid currency board peg to the US dollar. This means that it is a joke to give the name ...

  5. Preserve our currency autonomy

    Posted Apr 14th 2005, 12:00am by Tony Latter

    ... arguments for, or predictions of, the peg's demise? Yet it is still with us. If you believe in a fixed rate, then a currency board system, as practised in Hong Kong, is the best way to deliver it. I cannot think of any freely traded currency that has retained a fixed rate for so long by any other mechanism- apart from its antecedents, the gold and silver standards. But ought Hong ...

  6. Hong Kong well served by currency board despite Argentina's woes

    Posted May 17th 2005, 12:00am by Jake Van Der Kamp

    ... Jake van der Kamp WHY IS IT that discussions on the subject of currency board systems in international journals mostly refer to Argentina's calamitous experience with one and then lament that they cannot last? Why do so few of them suggest that the problem with Argentina's experience of a currency board may have been Argentina and not the currency board? Perhaps ...

  7. Curbs lifted on mainland firms' foreign currency holdings

    Posted Aug 14th 2007, 12:00am by Tom Miller

    ... Tom Miller in Beijing Beijing yesterday scrapped rules forcing mainland companies to convert a portion of their foreign currency earnings into local currency, the latest government measure ... on the central bank to let the [yuan] appreciate,' said UBS foreign exchange strategist Maizam Ibris. Encouraging exporters to hold on to their foreign currency should also, in theory, curtail ...

  8. China steps up crackdown on illegal currency deals

    Posted Sep 30th 2003, 12:00am by Staff Reporter

    ... in the local currency from neighbouring countries such as Vietnam, North Korea and Russia, according to a posting on its website. The crackdown on illegal currency transactions and the border conversion policy are new attempts to stem demand for the yuan, which led to an increase in China's foreign reserves and added to the pressure to allow the currency to float. 'Contrary ...

  9. Ignore the hawks- capital controls beat currency chaos

    Posted Aug 16th 2005, 12:00am by Tom Holland

    ... of just 2.25 per cent. Converted into US dollars, that money could earn 3.75 per cent at Citibank in New York or 4.32 per cent in US Treasury bonds. Other currencies offer even higher returns. ... returns. If anything then happened to damage confidence in the country's shaky banks, the flow could soon become a flood and Beijing could find itself with a rapidly sinking currency ...

  10. The currency trap

    Posted Jun 26th 2007, 12:00am by Laurence Brahm

    ... peg positioning but, rather, of the overall move towards making the yuan a freely convertible currency traded on international exchange markets. While China's policy-makers are pretty ... foreign-exchange reserves in the world. According to textbook economics, this is a three-pronged formula for a strong currency. Consequently, these three arguments have been repeated ad nauseam by some ...




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