Tag: undervalued
China and US to hold talks over currency issues
China and the US are set to hold economic talks in Washington DC next month as the two countries endeavour to reach an agreement over currency issues. The State Department announced yesterday: “The third meeting of the U.S.-China Strategic and Economic Dialogue (S&ED) will be held in Washington, DC, May 9-10, 2011.” China has been [...]
China trade surplus shrinks in January
Official figures have today revealed Chinese imports soared by 51% in January compared with a year ago – far exceeding forecasts of a 28% increase. Meanwhile, exports grew 38% in January on an annual basis, according to the customs authorities. Again, this easily beat expectations of a 22.4% rise. The strong rise in imports led [...]
China’s trade surplus narrows in December
Figures today from the customs authorities revealed Chinese exports surged 17.9% in December to $154.15 billion on an annual basis. However, this was much slower than the 34.9% rise reported in November. Imports, meanwhile, also rose, by 25.6% on a yearly basis to $141.07 billion, narrowing the country’s controversial trade surplus to $13.1 billion in [...]
China’s economy shows signs of cooling
Chinese economic growth slowed in the July to September period, to 9.6%, official figures showed today. The world’s third largest economy has experienced sensational growth over recent times, expanding by 11.9% in the first quarter and 10.3% in the March to June period, according to figures from the National Bureau of Statistics (NBS). There were [...]
Obama presses China over yuan issues
Following a “candid” two-hour meeting yesterday between Chinese Premier, Wen Jiabao, and US President, Barack Obama, it appears China will still not bow to pressure over its currency. The object of the meeting was to urge China to revalue its currency, the yuan. The US has previously expressed dissatisfaction that China is keeping the value [...]
US: Yuan is still undervalued
US Treasury Secretary, Timothy Geithner has reiterated that China’s currency, the yuan, is still significantly undervalued. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its exporters at the expense of overseas competitors. Trade groups have argued that the yuan, also referred to as the renminbi, [...]
China’s trade surplus narrows in August
China’s trade surplus narrowed to $20 billion (£13 billion) last month as imports surged ahead. However, August still represented the third consecutive month in which China’s trade surplus exceeding $20 billion. Imports soared 35.2% on an annual basis – far exceeding the 26.1% expected by analysts. Meanwhile, exports slowed to 34.4% on an annual basis, [...]
US comments on China’s exchange rate
A report issued by the US has said China’s yuan remains undervalued but welcomed the loosening of the currency peg. The US Treasury’s semi-annual currency report, which originally was due on 15 April, comes after mounting pressure on the People’s Bank of China to make its exchange rate more flexible against the US dollar. The [...]
IMF believes yuan still undervalued
Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), has said that China’s yuan was still too low, despite a pledge by the People’s Bank of China to make its exchange rate more flexible. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its exporters [...]
