Word: economisters
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...float, even only slightly, its value should better reflect China's buoyant economic growth and its booming trade with the rest of the world. But the 2.1% shift is so slight that it amounts to little more than "a toe in the water," says David O'Rear, chief economist at the Hong Kong General Chamber of Commerce...
...landscape is expected to remain virtually unchanged by this initial revaluation. Overall growth, which reached a scorching 9.5% in the second quarter, is expected to remain extremely robust. "Simply put, we don't see any effect whatsoever of a 2% revaluation on exports or imports," wrote Jonathan Anderson, an economist at UBS in Hong Kong...
...Economists hope that China's modest revaluation will ripple gently through Asia and the rest of the world. By giving scope for Asian currencies to strengthen, economists expect that the yuan's rise will effectively boost consumer-spending power throughout the region, because imports will become cheaper and interest rates will tend to remain low. In this way, the reform of the yuan could usher in a major shift in the way the global economy works: the knock against Asia is that it saves too much and spends too little, while the U.S. spends too much and saves too little...
...Economists predict that the Chinese government will gradually allow the yuan to appreciate?Deutsche Bank expects a 10% gain against the U.S. dollar over the next two years. And as the Chinese currency strengthens, the economic consequences become harder to foresee and control. Hot money could pour into China from speculators looking to profit from additional yuan gains, undoing Beijing's efforts to curtail excessive spending and lending in overheating sectors of the economy such as real estate. Also, if the yuan goes up by 10%, "you start to worry about China's competitiveness," says William Fung, managing director...
...same thing," says Don Robinson, managing director of Hong Kong Disneyland. Disney may be catching China at just the right time: Chinese consumers want to connect with the global pop culture that poverty and communist dictate had long kept out of reach. The Chinese, says Kevin Wong, a tourism economist at Hong Kong Polytechnic University, "want to come to Disney because it is American. The foreignness is part of the appeal...