Topic: Chinese Renminbi

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Six reasons to keep America as No. 1 superpower

Many around the world say American decline would preserve global stability through a better balance of power. They’re wrong, says Steve Yetiv, a political science professor at Old Dominion University. It’s not that other countries or international institutions can’t play vital roles. They do. But they can't yet do what Washington does around the world, Yetiv says. Here he gives six examples.
Five outrageously pricey pooches

Malachy the Pekingese won Best in Show at the 2012 Westminster Kennel Club dog show Tuesday, receiving a silver cup, a raft of media appearance, and the promise of breeding fees. But the crowd-pleasing champion has nothing on these five uber-expensive dogs. Most of us think our furry best friends are priceless (author included). But some dog lovers are willing and able to put their money where their heart is. Here's our list of five pricey pooches. Can you guess which breed took the top spot, and at what price?
Hu Jintao in America: 7 questions about the Chinese president's visit

Hu Jintao, the Chinese president, arrives in the US for a summit with President Obama. Among the issues on the docket for Obama and Hu Jintao: Chinese currency, economic trade, and human rights.
2011 predictions: interest rates around the world

Currency analysts pay obsessive attention to economic factors that indicate the direction of interest rates, because interest rates represent the price of a currency. Any price change has a direct impact on the currency’s value. That can mean huge gains or losses for currency traders, but it also has a big impact on what savers earn, borrowers pay, consumers shell out for imported goods, and global companies plan in terms of compensation and hiring. In 2010, the stress on various currencies became clear, causing many central banks to push interest rates to record lows. Here’s a look at how those forces could play out in 2011 in six major regions of the world:
In Pictures: 2009 Cost of Living Survey: The 10 most expensive cities

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North Korean women sold into 'slavery' in China

Like the thousands of women who fled North Korea before her, Kim Eun-sun made it into China and paid a woman to help her, only to discover she'd traded one form of captivity for another.
The New Economy
Currency move latest sign of China's transformation

China is transitioning away from being the world's discount manufacturer. But it will have to loosen its currency even more to avoid the pitfalls of development.  
The Circle Bastiat
What Bernanke gets wrong about the gold standard

The redistribution created by the Fed’s monetary pumping actually weakens the economy over time as real savings is squandered on malinvestments. With gold as money, real production and savings is stimulated.  Federal Reserve chairman Ben Bernanke doesn't understand that.
Six reasons to keep America as No. 1 superpower

Many around the world say American decline would preserve global stability through a better balance of power. They’re wrong, says Steve Yetiv, a political science professor at Old Dominion University. It’s not that other countries or international institutions can’t play vital roles. They do. But they can't yet do what Washington does around the world, Yetiv says. Here he gives six examples.
Five outrageously pricey pooches

Malachy the Pekingese won Best in Show at the 2012 Westminster Kennel Club dog show Tuesday, receiving a silver cup, a raft of media appearance, and the promise of breeding fees. But the crowd-pleasing champion has nothing on these five uber-expensive dogs. Most of us think our furry best friends are priceless (author included). But some dog lovers are willing and able to put their money where their heart is. Here's our list of five pricey pooches. Can you guess which breed took the top spot, and at what price?
Getting to know Xi: White House prepares to meet China's new man

President Obama and Xi Jinping, China's likely next president, meet today at the White House. Many are hoping for a good rapport that will bolster a strained US-China relationship.
US, China face 'trust deficit' as China's heir apparent visits

Chinese Vice President Xi Jinping, China's likely leader for the next decade, will meet President Obama this week, as well as make trips to Iowa and California.
Stefan Karlsson
Yearly roundup of world currencies: The yen, the rupee, and everything in between

How 14 of the world's largest currencies fared against the dollar in 2011.
Stefan Karlsson
Chinese foreign reserves are falling

As foreign exchange reserves in other countries fall, the Chinese yuan follows suit
The Circle Bastiat
Is Zimbabwe ditching the dollar?

Zimbabwe has been using the US dollar for most transactions since their own currency's value plummeted in 2009. Will the nation move on to the Chinese yuan instead?
The New Economy
America's one sure thing: the dollar

Don't worry about the international status of the dollar. The US dollar will be the world's reserve currency for decades to come.
Clean energy market: China promises open access

Clean energy companies in other countries will have equal access to China's burgeoning clean energy market, US envoy says after talks.
China promises clean energy access: US envoy

Commerce Secretary John Bryson said the officials told him Monday the country will invest $1.7 trillion over the next five years inclean energy and other emerging technologies. He said they pledged a 'level playing field for US and other foreign suppliers.
Stefan Karlsson
Chinese yuan will catch up to the dollar faster than we thought

China's economy is growing faster than the numbers suggest. It could overtake the United States as the world's biggest economy even more quickly than previously thought.
Chinese yuan's new global challenge to the dollar

Chinese yuan, pegged to the dollar until not long ago, is turning into a global reserve currency.
Unemployment benefits, trade data point to improvement

Unemployment benefits claims dipped by 1,000, just below expectations for unemployment benefits claims. Trade balance report confirms US avoided third-quarter recession.
China to US on currency bill: I wouldn't do that if I were you

The US Senate passed a currency bill that would punish countries that subsidize their exports by maintaining an artificially low exchange rate. China called such a law a 'lose-lose' for both sides.
Senate slap of China a sign that patience is wearing thin on trade

With jobs at a premium in the US, senators from states hard-hit by job losses to Chinese manufacturing passed a bill to sanction China for manipulating its currency.
Stefan Karlsson
China's $240 billion foreign aid

China loses as much as $240 billion per year by investing in loss creating assets like U.S. Treasuries, in effect making it the world's biggest foreign aid donor
On the Economy
Bernanke has the right ideas

The Fed chief gives a strong statement in support of activist policy firing on all fronts to address the economic crisis
Stefan Karlsson
The irony of China bashing

China has the strongest currency in the world. So why is Congress targeting China for having currency that is too weak?
Senate hits China for 'cheating' to steal US jobs

The Senate voted Monday to advance a bill that would punish China for manipulating its currency to drive exports. If it became law, the bill would risk a trade war over US jobs.
Stefan Karlsson
Why Romney is wrong about China

China is not "manipulating its currency" any more than the Fed manipulates U.S. currency
On the Economy
No short-term solutions from Romney

The presidential hopeful's jobs plan will result in more upward wealth redistribution, rather than job creation
Africa Monitor
West Africa Rising: Nigeria shifting currency reserves from dollars to Chinese yuan

Africa's top oil exporter will convert as much as 10 percent of its foreign cash reserves to the Chinese yuan as China's importance as a trade partner grows.