Word: renminbi
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
China's long-awaited currency adjustment is unambiguously positive for the global economy. I applaud Beijing's action for three reasons: first and foremost, it derails Washington's protectionists and the serious threat they pose to geopolitical stability. Admittedly, a 2.1% revaluation of the renminbi stops well short of the 27.5% adjustment proposed by several U.S. Senators. Their bill, which would impose damaging tariffs on Chinese imports, had garnered surprising bipartisan traction in Congress and could well have been passed by the upper chamber later this year. The China bashers certainly did not get anything close to what they were...
...large U.S. oil company would further complicate an already tense trade relationship between the U.S. and China. U.S. Treasury Secretary John Snow kept up public pressure on Beijing last week to revalue its currency, the renminbi, a move that Washington believes would brake China's surging trade surplus. China has also announced tariffs on its own exports of textiles to pre-empt possible moves by Europe and the U.S. to protect home markets. In this environment, the purchase by a state-owned Chinese oil producer of a U.S. rival no doubt would stir controversy. But in the global oil patch...
...Chinese money referred to as both yuan and renminbi. What's the difference? The latter is the official name of Chinese currency (translation: people's money). The former is the basic monetary unit, like the U.S.$1 note...
...that to those still planning their winter vacations. Locals in Phuket, from hawkers to hotel managers, say tourists, spooked by the thought of a vacation in a disaster zone, have avoided the holiday mecca. Beaches crowded before Christmas with several thousand sun worshippers?and whose euros and dollars and renminbi directly or indirectly support 70% of the local population?now play host to just a few hundred. Hotel occupancy has plummeted from the usual 90% to just 10-15%. International carriers?including Thai Airways?have canceled some direct flights to the island. It's now possible to spend an evening...
...sectors. This capital inflow is boosted by investors' betting that the government will sooner or later revalue the national currency, which is pegged to the U.S. dollar and is widely thought to be undervalued. Outbound investment by Chinese companies removes dollars from swelling national reserves, easing pressure on the renminbi to appreciate. China has given 22 of its cities and provinces the right to approve overseas investments of up to $200 million without consulting Beijing. Last month, the China Development Bank even issued a $10 billion loan to telecom-equipment maker Huawei to promote its international operations?a line...