Word: yuan
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...taxes, a mature legal system and international standards of corporate transparency and regulation. The mainland, for all its explosive growth, remains hamstrung by corruption and a centrally planned economy. Beijing has taken slow, measured steps to open its financial markets, but obstacles remain. Because China's currency, the yuan, is nonconvertible, capital can't flow freely between Hong Kong and the mainland. And Chinese officials recognize that a flood of mainland money could disrupt Hong Kong's markets. Last year, Chinese authorities cracked down on underground Shenzhen traders funneling yuan illegally into Hong Kong. Aware that speculative investment could destabilize...
...exchange rate remains a contentious issue. Since China's currency, the yuan, was delinked from the U.S. dollar in July, 2005, it has appreciated about 14% against the greenback. However, because of the declining international value of the dollar, the yuan has depreciated by some 6.4% against the euro. This has made the Europeans very unhappy. Their trade deficit with China is now also very large...
...China has resisted foreign pressure for faster appreciation of the yuan out of concern that such action will slow the economy and reduce employment. But policymakers also know their stance is fueling trade frictions and that exchange-rate appreciation is not always bad for job creation. A stronger currency could ease the trade surplus and fight domestic inflation. It could also help the country reduce its reliance on low-end manufacturing; a mightier yuan would encourage the development of higher value-added businesses and service industries, which have lagged manufacturing but hold greater promise for long-term job creation...
...Communists have learned that trying too hard to influence political affairs on the raucously democratic island only backfires. The Kuomintang (KMT), which favors closer ties with China, won 81 of Legislative Yuan's 113 seats, soundly defeating Chen's independence-leaning Democratic Progressive Party (DPP), which took 27. The win also gives momentum to KMT presidential candidate Ma Ying-jeou over DPP rival Frank Hsieh in the March 22 vote. Chen Shui-bian called it the worst setback in the history of the DPP, and took responsibility by resigning as the party's chairman...
...think the dollar is near a bottom via the Euro, pound and Canadian dollar. Foreign exchange markets are already pricing in a very weak if not recessionary U.S. economy and substantial Fed easing." And while he thinks the dollar still has further to go in relation to the Chinese Yuan and other Asian currencies - he predicts another 5% to 7.5% until early in the next decade, when he thinks the Chinese-U.S. trade balance will stabilize - jumping into the Forex probably isn't the smartest way to take advantage of this environment...