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Snow: Let China decide on RMB

John Snow, former US Treasury Secretary, said it is up to Chinese leaders to decide the timing of any yuan revaluation, although he believes a gradual currency revaluation would be the best option for China. [YONG KAI / CHINA DAILY] SHANGHAI - It won't be a surprise if the ...

Experts warn of impacts from trade protectionism

Containers loaded for exports. Global trade in merchandise is projected to rise 9.5 percent this year. [Asianewsphoto] Developing nations will probably feel mounting trade protectionism in 2010 due to continuing high levels of unemployment and the weak economic recovery in ...

Stop piling up greenbacks to build a more balanced economy

In recent months, US economist Paul Krugman wrote several op-ed pieces calling on the US government to take on China. He is a respected economist, but his campaign is not only counter-productive in terms of solving the China-US trade dispute but also based on flawed economics. In ...

No change in currency policy, Xi tells Paulson

Vice President Xi Jinping (fight) shakes hands with former US Treasury Secretary Henry Paulson on Friday. Xi emphasized the importance of Beijing's currency policy. [Ren Chenming / China News Service] Bo'ao, Hainan - Vice President Xi Jinping on Friday emphasized the importance ...

WB: Early stimulus exit may hamper recovery

Central bank to resume sales of three-year bills from Thursday BEIJING: It is still premature at this stage for China to withdraw its fiscal stimulus despite the country's sustained economic growth, the World Bank said on Wednesday. The World Bank expects China s GDP to expand by ...

Paulson bats for stronger ties between China, US

Henry Paulson, former US Treasury Secretary, said dialogue would help the two countries foster mutual understanding on disputed issues.[Agencies] BEIJING - Bilateral relations between China and the United States continue to remain strong despite the recent tensions on the yuan ...

Yuan 'not cause of US woes': scholar

Deficit result of low savings, high consumption BEIJING: A top government policy adviser has said the value of the Chinese currency is not the reason for the US trade deficit, and that Washington should restructure its economy if it wants to improve its trade balance. "The yuan's ...

Wen stands firm on yuan

Premier Wen Jiabao meets the press on Sunday at the Great Hall of the People after the conclusion of the annual session of the National People s Congress, the country s top legislature. He answered questions ranging from the yuan s exchange rate and the economic stimulus package ...

Yuan forwards drop as Wen slams appreciation calls

BEIJING: Yuan forwards weakened the most in more than four weeks after Premier Wen Jiabao said the currency is not undervalued and criticized international calls for appreciation. Government bonds slid. Foreign pressure for currency gains can amount to trade "protectionism", Wen ...

FDI climbs a seventh month

BEIJING: China's foreign direct investment (FDI) rose for the seventh consecutive month in a row, albeit at a shade lower than earlier, the Ministry of Commerce (MOFCOM) said on Monday. The indicator recorded year-on-year growth of 1.1 percent in February to $5.9 billion, the ...

Fiscal plan supple to inflation

A staffer at a bank in Shenyang, capital of Liaoning province, counts US dollars. Economists say the increased supply of currency may not lead to uncontrollable inflation next year, although it is set to rise higher than this year. [China Daily] The government's loose monetary ...

Stimulus package supported

An employee helps build a car on the assembly line at Anhui Jianghuai Auto in Hefei, Anhui province, yesterday as State leaders were working on building long-term stability into the Chinese economy at the annual economic conference. Policymakers vowed to keep economic stimulus ...

US likely to label China 'currency manipulator'

BEIJING - The US Treasury Department is highly likely to label China a currency manipulator in a report due out in mid-April, but the move will be "more symbolic than substantive" to win mid-term Congressional elections in the fall, former US trade representative Susan Schwab ...

Trade deficit likely in March

Minister warns China will fight back if declared currency manipulator BEIJING - The country will probably see a "record trade deficit" in March thanks to surging imports, Minister of Commerce Chen Deming said on Sunday, while warning that Beijing will "fight back" if Washington ...

China mulls withdrawing proactive fiscal policy

China is considering gradually withdrawing its proactive fiscal policy but so far no timetable has been established, said Wang Jun, vice minister of finance, at the 2010 China Development Forum in Beijing today. Wang Jun, vice minister of finance, delivers a speech at the 2010 ...

US 'profited' from Chinese buying

Magnified trade deficit also leaves great room for exports to China, ministry says BEIJING - The United States has reaped "fat profits" from China's robust purchasing power and its comparatively low labor cost, even amid the financial crisis, the Ministry of Commerce said on ...

Yuan solution will be found

Get Flash Player Video: Section Two Washington s ambassador to Beijing Jon Huntsman is the focus of media attention after delivering a speech on Sino-US relations at Beijing s Tsinghua University on Thursday.[Yang Shizhong/China Daily] US envoy says 'important talks' will be held ...

Reduce reliance on US T-bills, says Cheng

SHANGHAI: China should be cautious in buying or selling huge amounts of US Treasury bonds due to the inherent risks they pose, Cheng Siwei, an influential economist, said on Wednesday, suggesting that the suitable ceiling for the nation's foreign exchange reserves is $800 billion...

Trade winds blowing strong

An employee checking containers for shipment at Yangluo Port in Wuhan, Hubei province. [China Daily] Full-year figures set to remain insurplus, despite March deficit BEIJING: China's full-year trade balance will still be in surplus and there is nothing to be alarmed about the ...

World Bank official says no case for revaluation

Forecaster says change in the yuan's value would not solve US problems BEIJING: A leading figure from the World Bank has rejected US government claims that the Chinese yuan is undervalued. Hans Timmer, who has a high-profile role as director of the bank's Development Prospects ...
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