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  1. News - China - DIPLOMACY

    China and Brazil agree to US$30 billion currency swap deal

    Posted Mar 28th 2013, 12:00am by Bloomberg

    ... Bloomberg in Durban The agreement serves to provide protection during times of financial crises China and Brazil agree US$30b currency deal China and Brazil agreed to establish a swap line of about US$30 billion in their respective currencies as they work to reinforce the clout of the world's largest emerging markets on a global stage. China, the world's second-biggest ...

  2. Mainland faces currency battle

    Posted May 07th 2012, 12:00am

    ... pre-eminence as an offshore centre for the currency. Now, though, with the central government and central bank making clear their aim of seeing the yuan one day attain reserve currency status, ... of their currencies in the yuan, then a critical mass is reached.' At a policy level, Poon notes that China's ambitions in this respect are partly symbolic and partly a consequence of its position ...

  3. 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 ...

  4. 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 ...

  5. Can Asian currencies rise to global challenge?

    Posted Aug 26th 2011, 12:00am

    ... Alessandro Magnoli Bocchi Over the past two years, most currencies' exchange rates have fluctuated at an unprecedented pace. This volatility is due to two global policy responses ... macroeconomic environment creates foreign-exchange volatility. Second, currency devaluation is an attractive alternative to cutting public spending. Today, the US, Europe and Japan- but also China, ...

  6. Military drills and currency on agenda

    Posted Nov 10th 2011, 12:00am

    ... Teddy Ng in Beijing teddy.ng@scmp.com The United States' involvement in the Asia-Pacific region and Chinese currency reform are expected to top the agenda when President Hu Jintao and his US counterpart Barack Obama meet during the Apec summit starting today in Hawaii. Hu will elaborate on China's stance on global economic policy, regional development and hold ...

  7. Yuan currency, two systems. Time to ditch 'foreign renminbi'

    Posted Mar 26th 2011, 12:00am by Shirley Yam

    ... with Shirley Yam Does China consider the renminbi traded in Hong Kong and overseas a domestic currency or a foreign one? I ask this question- academic, if not incomprehensible, to some- ... outside mainland China has been called a 'foreign currency'. That gives the State Administration of Foreign Exchange full control on the inflow of yuan to the mainland. This is crucial ...

  8. Creative currency solutions make yuan deposits hot in HK

    Posted Sep 11th 2010, 12:00am by Shirley Yam

    ... Beijing's efforts to internationalise the currency but is simply the result of recent expectations that the yuan will appreciate in value. So is the jump in yuan deposits a temporary boost ... percentage points higher than the negligible 0.3 per cent return he's getting on his Hong Kong dollar deposits. The yuan deposits would also reduce the pain of his currency mismatch if the yuan ...

  9. Arrogance and fear drives currency policy

    Posted Nov 22nd 2009, 12:00am by Philip Bowring

    ... Philip Bowring What drives China's currency policy? Is it arrogance, fear or a mix of the two? At present, China is behaving like a rogue state, the only significant trading country to insist on its right to peg its currency to the US dollar and to maintain controls on most movements of capital. The net result is not merely to help sustain the imbalances in global trade, which ...

  10. Yuan: a super currency

    Posted Mar 14th 2007, 12:00am by Staff Reporter

    ... Cameron Dueck A senior reporter at the South China Morning Post takes a look at one of the business world's hottest topics: the power of China's currency China and the US have ... the countries spiral out of control. It's the main topic of debate whenever leaders from the two countries meet. But why should we care? The US dollar is the standard of global currencies ...




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