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News on the RMB, the Chinese Currency

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Revenge of the baby kissers

Export surge in May triggers more currency tension on Capitol Hill
Jun 18, 2010 (WiC 65)

China’s exports grew by 48.5% in May in year-on-year terms, the biggest surge in six years, and far beyond market expectations. First, the positives from the news. Markets leapt, because it seemed to show that Europe’s financial crisis is ...

Very much appreciated

Who gains and who loses from a stronger yuan?
Apr 16, 2010 (WiC 56)

Apparently a more cordial chapter in Sino-US relations is upon us. After weeks of barbs and brickbats, the mood appears to be mellowing. Currency policy is shaping the new tone: the consensus is now that it is a matter of when (and not if) the ...

Verbal battle over China’s currency heats up ahead of US Treasury report
Apr 1, 2010 (WiC 55)

The focus of the Sino-US debate on the value of the renminbi seems to be one the move – from head-spinning statistics towards hand-wringing dramatics. The rhetoric is definitely hardening. Zhong Shan, vice-minister of commerce, gave a speech ...

Sooner or later… but when?

Did China’s central bank governor suggest a stronger renminbi is on the way? Or was he merely misunderstood?
Mar 12, 2010 (WiC 52)

A change of heart? Not the way the Chinese press reported it. Wen Jiabao’s speech last Friday, in which he said that the renminbi would remain “basically stable”, got most of the attention. And if there was any nuance ...

China’s new money man

Zhu Min’s IMF posting may herald a new world order
Mar 5, 2010 (WiC 51)

No one can exactly say when America’s financial hegemony began in the twentieth century, but for historians a symbolic, and convenient, date is August 16, 1924 when the Dawes Plan was signed. Named after Charles Dawes, the US vice-president, ...

Bond, Renminbi Bond

Offshore sovereign bonds set to be issued in local currency for the first time
Sep 19, 2009 (WiC 31)

In late March, Zhou Xiaochuan – the head of China’s central bank – made his first call for a new “super-sovereign reserve currency” to reduce reliance on the dollar. The goal, he wrote, was to “create an international reserve ...

Enter the ‘redback’

A historic week for China’s currency
Jul 10, 2009 (WiC 23)

It wasn’t exactly in the same league as Orville and Wilbur Wright getting their spruce flyer 10 feet into the air, but July 6 will probably be remembered as historic too. That’s because the long-awaited renminbi settlement scheme finally got ...

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