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  1. Despite high hopes, yuan will remain a second-rate currency

    Posted Mar 21st 2012, 12:00am

    ... of those who believe it is the manifest destiny of the yuan to displace an ailing US dollar as the world's foremost trading and reserve currency, providing the mainland with incalculable ... end in its own right, but rather because they see currency liberalisation as an effective means to promote necessary domestic financial reforms. The reformers- notably at the central bank- ...

  2. Beijing extends currency buying

    Posted Mar 17th 2012, 12:00am

    ... Lulu Chen lulu.chen@scmp.com China was a net purchaser of foreign currency for a second straight month in February, reflecting increasing capital inflows, easing liquidity conditions and rising confidence in the yuan last month, economists said. The People's Bank of China bought a net 25.12 billion yuan (HK$30.74 billion) of foreign currency last month compared with a net ...

  3. The lesson Europe could learn from the Asian currency crisis

    Posted Feb 17th 2012, 12:00am

    ... devaluing its currency, probably by between 30 and 50 per cent. None of this was exactly rocket science, more a statement of the bleeding obvious; although one senior German finance ministry ... per head for Thailand and Indonesia, again indexed to 100 in 1996, the year before the Asian crisis forced them to abandon their pegged exchange rates and devalue their currencies. Recovery ...

  4. Global reserve currency proves to be a curse for the issuing country

    Posted Oct 15th 2011, 12:00am

    ... of a global-reserve-currency country and the needs of the world that uses that reserve currency. Triffin predicted that the reserve-currency country would run a current-account deficit to provide the world ... the accounting unit issued by the International Monetary Fund- as a possible global reserve currency. The logic for a globally issued reserve currency is impeccable. Nationally issued reserve currencies ...

  5. Beijing warns of 'trade war' over US currency bill

    Posted Oct 05th 2011, 12:00am

    ... for its currency policies. US lawmakers have accused Beijing of manipulating the value of the yuan to keep it artificially low in order to boost exports. In a rare move, the central bank, ... at forcing Beijing to let its currency float freely, and accused Washington of politicising global currency issues. The US Senate voted on Monday to allow a debate on the bill, which would force ...

  6. 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, ...

  7. Calls for Asian currency union courting a truly Titanic disaster

    Posted Dec 16th 2010, 12:00am by Tom Holland

    ... or Unescap, said regional economies should consider managing their exchange rates against a common basket of reserve currencies. Unescap says Asia needs 'a currency management system which facilitates trade and macroeconomic stability and discourages beggar-thy-neighbour currency competition'. And the ADB argues that Asia's extended network of cross-border supply chains needs ...

  8. Little chance of currency deal to avert looming trade battle

    Posted Jan 11th 2011, 12:00am by Tom Holland

    ... with Tom Holland The Brazilian finance minister believes the world's 'currency war' is going to escalate into a global trade war. He may be right. Guido Mantega caused a stir in international markets last September when he claimed the world's leading economies were engaged in a currency war in which some countries were unfairly manipulating the value ...

  9. China winning currency war

    Posted Oct 31st 2010, 12:00am by Alex Lo

    ... these days,' said Mason, a specialist in the politics of international currencies and a former Federal Reserve Bank of Cleveland official. 'But maybe there is another explanation. Maybe ... fate of Japan after the Plaza Accord,' wrote Martin Wolf of the Financial Times, as a typical example of this view. 'In the absence of currency adjustments, we are seeing a form ...

  10. IMF meeting ducks currency war issue

    Posted Oct 12th 2010, 12:00am by Kevin Rafferty

    ... communiqu? There was much talk of 'war'- currency war, trade war- in the hallways and hotels, if not yet in the formal forums, but in the end, the so-called leaders of the financial world ... of the IMF's key committee was wishy-washy, full of pious blah-blah, and without a single mention of 'dollar' or 'yuan' or even 'currencies'. It said in the final ...




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