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US warns China after renminbi depreciation   [Copy link] 中文

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Post time 2014-4-11 01:46:40 |Display all floors
This post was edited by lt1322min at 2014-4-11 02:00

The US has warned Beijing not to go back to manipulating its currency, following a sharp depreciation of the RMB since the start of 2014.

"If the recent currency weakness signals a change in China's policy away from allowing adjustment and moving toward a market-determined exchange rate, that would raise serious concerns," said a senior Treasury official ahead of this week's IMF, World Bank and G2O meetings in Washington.

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Post time 2014-4-11 01:54:47 |Display all floors
This post was edited by lt1322min at 2014-4-11 02:01

The renminbi has fallen more than 2.5% against the US dollar since mid-February, a small amount for most emerging markets, but a dramatic shift for Chinese currency following years of slow and steady appreciation. It trades at RMB 6.20 against the US dollar, rougly the same level as this time last year.

The US comments highlight concern that China will be tempted to respond to a slowing economy by holding down its currency in order to boost exports. Such moves could lead China to reduce global demand at a time when several other regions of the world are weak. That could in turn hamper US growth.

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Post time 2014-4-11 01:59:40 |Display all floors
This post was edited by lt1322min at 2014-4-11 02:01

However, most analysts believe that Beijing's decision to weaken the renminbi was not a ploy to boost competitiveness but to stamp out speculation from companies and investors who had treated the renminbi as a one-way bet by introducing more meaningful two-way volatility. It also has the positve effect of increasing domestic liquidity at a time when stress within the financial system is rising.

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Post time 2014-4-11 05:00:38 |Display all floors
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Post time 2014-4-11 06:33:34 |Display all floors
until it becomes a civilized place

Most of us don't have 100 years left to live to see that happens (if at all).
Let's set the exchange rate at 1 USD = 4 RMB and let the chips fall.
I'm just here for the money

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Post time 2014-4-11 11:54:51 |Display all floors
Mr. Jay

That would mean CHINA = USA gnp at today's GNP of both nations!
US$15 trillion PARITY.
and per capita income of US$10,000 for China......

I'll continue to have TEA, some scone, a little bit of cocoa & cake!

Cheerios!

Green DRagon

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Post time 2014-4-11 12:00:17 |Display all floors
By the WAY, there seem to be LITTLE ROOM for EXPORT LEAD GROWTH.
at the moment.
Nope, not at all.
Not in Europe, not in the USA and the commodity exporting world depends on demand of GLOBAL FOREX minters. Only Asian Trade Route States and China can continue growing IF THEY KNOW how?

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