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CNY

A week before the leaders of the Group of 20 economies were scheduled to meet in Toronto, China’s central bank announced that it will embrace policies that the international community has been promoting for years. In a somewhat unexpected development, Beijing stated its intention to make its exchange rate more flexible on Saturday night, ending a long period of speculation that occasionally saw foreign officials publicly criticize China’s currency policies. [click to continue…]

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It’s no secret that many economists believe China’s currency is wildly undervalued and many politicians detest Beijing’s stubbornness to discuss changes to the country’s longstanding currency policy. But as China’s importance to the world economy has surged–it is expected to account for a significant portion of global GDP growth this year–the country’s political clout has grown as well. Despite concerted efforts of numerous world leaders, a revision to the yuan-dollar peg had recently seemed very unlikely, especially after Prime Minister Wen Jiabao told the National People’s Congress last month that  the currency would remain “basically stable.” [click to continue…]

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As job loses continue to mount in the United States–first-time claims for unemployment insurance recently rose by 22,000 to a seasonally adjusted 496,000–many political officials and ordinary citizens are looking for creative ways to stem the seemingly never-ending loss of jobs. One of the hottest issues in recent weeks has been China’s currency policy, which […]

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Ultimate Guide To China Yuan ETF Investing

by on November 18, 2009 | Updated June 9, 2010

President Barack Obama embarked this week on a critical trip to China, seeking to gain support for tougher economic sanctions against Iran during meetings with Chinese President Hu Jintao. But as the U.S. president was setting out to present his case, the controversy over the relative value of China’s currency, a delicate issue for U.S. […]

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China’s central bank once again stated the need for reform of the international currency system to reduce over-dependence on current reserve currencies (read: the U.S. dollar). While the People’s Bank of China (PBOC) didn’t specifically mention the dollar in its statement, the desire to replace the greenback as a central component of many countries’ foreign […]

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