China money: The yuan will now be worth more against the dollar, boosting Chinese consumers' buying power.
On visit to the Shanghai Expo, President Mahmoud Ahmadinejad alluded to 'pressure and intimidation' that China may have felt in the Iran sanctions vote. China, the largest customer of Iran oil, is treading carefully in the Middle East.
As the UN considers whether to impose more sanctions on Iran for its nuclear plans, China is a key player. China gets 11 percent of its oil from Iran, and sees a double standard in the US position toward Iran's nuclear program.
Former dissident and Czech president Vaclav Havel visited the Chinese Embassy in Prague this week in support of Liu Xiaobo, a Charter 08 author and democracy activist who received an 11-year prison sentence last month. Mr. Havel was a principal author of Charter 77, which targeted suppression in the Soviet East Bloc.
Beijing is against sanctions as a matter of principle – and because of recent multi-billion dollar energy deals with Iran.
The global crisis has led to political upheaval in many countries, unseating three prime ministers in Europe alone.
Taking office Tuesday, Mr. Ma promised closer economic ties and more talks with Beijing.
Keen not to taint Olympics, and under pressure from West, Beijing sends envoy to Khartoum with strong words.
With monthly inflation at 6.5 percent, Beijing applies its first price controls in 15 years.