InfoAnda - Better US-China ties could speed currency change

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Alvin and Chipmunks still squeaking 50 years on | | 30 March 2010
Top level Mexican drug boss found slain on highway | | 3 September 2011
U2 singer Bono denies reports of health scare | | 22 August 2011

Apple readies iPhone for launch in China: report | 27 August 2009

Forum Views () Forum Replies ()

Read more with google mobile : Better US-China ties could speed currency change

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Better US-China ties could speed currency change By ELAINE KURTENBACH,AP Business Writer - Saturday, April 10 Send IM Story Print SHANGHAI, China – For months, economists have expected Beijing to start boosting the value of its currency about now to ease strains in its fast-growing economy. The big question: Would Chinese leaders put off changes to avoid looking weak in the face of mounting U.S. pressure for action? Washington has helped to defuse that conflict with conciliatory gestures including Thursday's impromptu visit to Beijing by U.S. Treasury Secretary Timothy Geithner. Now analysts expect Chinese leaders to go ahead and let the yuan rise, possibly as soon as within the next few weeks. "Now that the U.S. has given China more political breathing room, the Chinese can go ahead and do what they were going to do anyway, which is to resume gradual appreciation," said Andy Rothman, macro strategist for CLSA Asia-Pacific Markets. Beijing tied the yuan to the dollar for decades but broke that link in 2005, allowing it to rise by about 20 percent through late 2008. The government slammed on the brakes after the crisis hit and has since held its currency steady against the greenback, saying China cannot afford further change after losing millions of factory jobs to the plunge in global demand. Washington and other trading partners complain that Beijing keeps the yuan undervalued by up to 40 percent, giving its exporters an unfair price advantage and swelling its trade surplus. Some American lawmakers are pushing for punitive tariffs on Chinese goods if Beijing fails to act. Chinese leaders have their own reasons for allowing the yuan to rise. A stronger yuan would boost Chinese consumer spending power, easing reliance on exports. It would narrow China's politically volatile trade surplus, making the flood of foreign money pouring into the economy more manageable. Economists long expected Beijing to act before the middle of this year so long as exports and economic growth were solid, and March trade data due out next week are expected to be healthy. Still, they caution that any increase will be gradual and is unlikely to narrow U.S. and European trade deficits and create jobs. China's central bank agitated for the change but faces opposition from the Ministry of Commerce, which argued that exporters of low-profit goods such as shoes and toys would be priced out of foreign markets, threatening job losses and unrest. Facing pressure to create American jobs, President Barack Obama vowed in early February to "get much tougher" in trade disputes with China and to press for an end to currency regimes that he said depress export prices and put U.S. companies at a disadvantage. Such prodding made a change politically unpalatable to Chinese leaders. In a nationally televised news conference in March, Premier Wen Jiabao rejected foreign "finger-pointing" to force currency appreciation and said the yuan was not undervalued. "No government wants to look like it's acting under foreign coercion," said Rothman. In recent weeks, Obama has backed off the confrontational stance. The Treasury postponed issuing a report to Congress due in April in which it had the option of declaring Beijing a currency manipulator. In another sign of warming ties, Chinese President Hu Jintao is due to hold talks with Obama during an April 12-13 visit to Washington for a nuclear security summit. "A better public opinion environment might make it easier for the decision-makers by giving them more leeway to decide currency policy," said Yu Wanli, a professor at Peking University's Center for International and Strategic Studies. Some analysts expect the yuan to start rising as early as next month. That would defuse the issue before the June meeting of the U.S.-China Strategic and Economic Dialogue, a high-level annual contact. Others expect action by late June, when Beijing and Washington take part in the Group of 20 meeting of major developed and developing economies. "The assumption for a lot of people is that there is an understanding, at least implicitly, between Beijing and Washington that Obama is giving them some breathing room but is making clear that they have to do something soon," said Rothman. "Waiting beyond the first week of July would be unacceptable." Economists caution that a stronger yuan is unlikely to narrow the yawning U.S. trade deficit because American factories don't produce the goods supplied by China. So even if prices rise, buyers would switch to a low-cost foreign supplier such as Mexico or Malaysia. Chinese officials note that after the 2005 rise in the yuan, the country's trade surplus with the United States continued to widen. In 2005, Beijing revalued the yuan by 2 percent in a single day, then allowed a gradual, tightly controlled upward crawl that saw it gain about 5 percent annually. This time, few analysts expect a sharp one-time change. Most are forecasting no more than a 5 percent annual rise by the yuan against the dollar. "When it does rise, the renminbi will move slowly," Capital Economics said in a report this week, referring to the Chinese currency by its other official name. Instead of a sharp revaluation, "the renminbi will simply resume the gradual rise against the dollar that came to an end in July 2008." ___ AP Business Writer Joe McDonald and researchers Bonnie Cao and Yu Bing contributed to this report. Recommend Send IM Story Print Related Articles Qatar Air CEO sees second air traffic dip at yr-end Reuters - 25 minutes ago Reliance to pay Atlas $1.7 bln for Marcellus stake Reuters - 29 minutes ago British geologist shot dead in Ethiopia Reuters - 33 minutes ago RPT-MOVES-Lloyds TSB, Troika Dialog, Barclays, Jefferies Reuters - 36 minutes ago Russian rouble at new highs, poised for more gains Reuters - 39 minutes ago News Search Top Stories EU leaders ready to help Greece, markets bet on bailout UN forum struggles after Copenhagen setback At ISS, Discovery astronauts conclude first spacewalk NASA chief says space agency positioned to grow German exports jump in February: official data More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Taiwan's male 'Susan Boyle' a web sensation Two-million-year-old hominid sheds light on evolution Countries list priceless relics they want returned to them Legendary Soviet diplomat Dobrynin dead at 90 Greece sinks deeper as loan costs hit record highs More Most Viewed » 'Rare' fossil of new dinosaur species found in US Junkies and junk-food addicts share craving mechanism Toad is a telltale for impending quakes: scientists Taiwan's male 'Susan Boyle' a web sensation More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Friday, 9 April 2010
NATO condemns new Taliban video of US hostage
LinkedIn expands board with former search engine CEO
Military trial of 79-year-old Syrian lawyer begins |
Rio rescuers scour for new mudslide victims; 173 dead |
Greece sinks deeper as loan costs hit record highs
Bullying Linked To Mental Health Issues
Sri Lanka vote to hand president's party easy victory |
Two-million-year-old hominid sheds light on evolution
Poisoning Second Leading Cause Of Unintentional Injury Death In U.S.
Karadzic loses new bid to halt war crimes trial |
Judge Fired Amidst Late DVD Debacle
Obama and Medvedev cut nuclear arsenals, warn Iran
Retailers Report Blow-Out Sales In March
"Dynasty" Actor Christopher Cazenove Dies At 64
Former Congressman Foley Potential West Palm Beach Mayoral Candidate
Sudan polls to start despite fraud claims, boycotts |
Taiwan's male 'Susan Boyle' a web sensation
Oprah Winfrey Swapping Daytime Talk With Nighttime Series
Kelly Clarkson Slams "Stupid Music" On Top 40 Radio
New US mine search called off due to gas build-up
Protesters defy state of emergency in Bangkok
Judges Save Michael Lynch From “American Idol” Elimination
Heavy shooting breaks out again in Kyrgyz capital
Child bride dies of internal bleeding in Yemen |
Republican Leads In Race For Obama's Senate Seat
Jailed China activist seeks medical parole: wife
Pakistan lawmakers vote to curb president's powers
Afghan police: 5 suicide bombers arrested in Kabul
Apple's iPad sets strong sales pace, iAds unveiled |
Mexico may cut millions of cellphones to fight crime |
Pakistan lawmakers approve landmark reforms
3D TV to face global test in soccer World Cup |
Thailand: Arrest warrants out for protest leaders
Kyrgyz president refuses to admit defeat
Japan's video game visionary: the console is dying |
North Korea to expel SKoreans from mountain resort
Political Job for Caine as star joins UK campaign
Prague takes 'Golden Lane' back to Bohemian roots
NATO aid yet to bear fruit for Afghan farmers
Japan's students slacking off, study finds
Oprah Winfrey to host new global evening show |
Actor Nicolas Cage loses L.A. mansion to lender |
Sex Pistols manager Malcolm McLaren dies from cancer |
A Minute With: Sam Worthington on Titans and skirts |
Netanyahu cancels trip to Obama's nuclear summit
Legendary Soviet diplomat Dobrynin dead at 90
Kyrgyzstan mourns dead in fragile calm after uprising |
Real life 'Hurt Locker' teams face real Afghan bombs
Japanese robo-suit promises superpowers for greying farmers
Al-Qaeda in Iraq claims Baghdad embassy bombings
US-TECH Summary
China says Iran sanctions talks in NY "constructive"
Tribune Co. in deal with creditors to emerge from bankruptcy
Thai army warns protesters it could use force |
Sudan polls to start despite fraud claims, boycotts
Apple's iPad takes video gaming seriously
Unmanned Drone To Search For Missing California Woman
Sri Lanka ruling alliance takes early lead in polls |
Apple's New iPhone Software To Offer Multitasking, Ad Tools
Countries list priceless relics they want returned to them
L.A. Times Angers Parents Television Council By Calling "Glee," Cougar Town" Family Friendly
U.S. Markets Rise As Retail Sales Jump
Nuclear summit takes aim at unsecured bomb material |
Rihanna Spends Fourth Week At #1 On Billboard Hot 100 With "Rude Boy"
U.S. and Russian Presidents Sign Treaty to Reduce Nuclear Arms
Mortgage Rates Hit 8-Month High, Refinancing Activity Slips
Apple's Jobs unveils updated iPhone software
North Korea parliament meets, succession in focus |
Special Report: Southern Sudan: oil boom to bust-up? |
Australia suspends Sri Lankan, Afghan asylum claims |
Mexico may cut millions of cellphones to fight crime
Canadian firm sues 20 top tech firms for patent infringement
Rio rescuers scour for new mudslide victims; 180 dead |
FCC issues broadband agenda despite court loss
Afghan police learn how to fight domestic violence |
Apple's iPad sales set strong pace
Mexico may cut millions of cellphones to fight crime |
Prosecutors: Pelosi feared for family after calls
Wi-Lan sues Apple, HP, others on Bluetooth patent
China executes three Japanese drug smugglers
Ruling coalition leads Sri Lankan elections
Nuke treaty signed, but menacing arms issues lurk
NKorea's parliament likely to focus on economy
US downplays Netanyahu no-show at nuclear summit
Australia: No more Afghan, Sri Lankan refugees
No charges for Qatari diplomat after US flight scare
Thai protesters march, vowing to revive TV channel
U.S. envoy Holbrooke gets all clear for Afghan trip
Obama and Medvedev cut nuclear arsenals, warn Iran
Kyrgyz mourn revolt victims; new unrest overnight
Canadian firm sues 20 top tech firms for patent infringement
Crews begin moving oil from ship stuck on reef
Yahoo technology chief to step down |
Typo costs prisoner 3 extra years in Indonesia
NATO helicopter downed in southeastern Afghanistan
Mexico may cut millions of cellphones to fight crime |
Thailand beefs up security in protest-hit capital
US-ENTERTAINMENT Summary
Is Taiwan's male "Whitney Houston" the next Susan Boyle
Former Sex Pistols manager McLaren dead at 64
Former "Survivor" producer arrested in Mexico over wife's death
Jennifer Lopez solid in formulaic "Back-up Plan"
"Date Night" battles "Titans" at box office
Studios cut film marketing as landscape changes
Oscar winners hit flat note in "My Own Love Song"
Oprah to star in traveling talk show on own network
Rihanna leads pop chart for fourth week
S.Korea freezes key interest rate for 14th month
China asks WTO to rule on shoe dispute with EU
S.Korea KOGAS March LNG sales up 33 pct y/y
Seoul shares slip on exporters; banks, airlines up
S.Korea central bank signals no near-term rate rise
Former Survivor producer arrested in Mexico over wife's death |
Taiwan flat panel sales to China expected to rise
PAKISTAN
Date Night battles Titans at box office |
S.Korea spotted buying dlrs to curb won -traders
Is Taiwan's male Whitney Houston the next Susan Boyle |
Reality supermom Kate Gosselin to get new show |
Bank of Korea keeps key rate at 2 percent
Sex Pistols manager Malcolm McLaren dies from cancer |
SKorea urges NKorea to retract threat over tourism
Rihanna leads pop chart for fourth week |
Jennifer Lopez solid in formulaic Back-up Plan |
Studios cut film marketing as landscape changes |
US aircraft crash kills four, including American troops
German exports jump in February: official data
South African white supremacist buried amid anger |
Tributes pour in for British punk pioneer McLaren
Facebook joins drive to get UK voters to polls
Iran to display new centrifuges for nuclear work
Iraq al Qaeda group claims Baghdad embassy bombs
Iran to display new centrifuges for nuclear work |
EU leaders ready to help Greece, markets bet on bailout
US troops among 4 killed in Afghan air crash: NATO
British geologist shot dead in Ethiopia |
UN forum struggles after Copenhagen setback
Suicide bomber kills one in Russia's south |
NASA chief says space agency positioned to grow
Italian abuse victims want pope to speak out |
Aviva to re-enter general insurance sector in Asia
Somalis on the move but fewer reach safe havens: UNHCR |
Gunmen kidnap 4 foreign workers in Nigerian oil hub |
US will be trapped in 'quagmire' if Iran attacked
Thai protesters storm into TV compound
State TV: Sri Lanka's ruling party wins election
N.Korea slams US nuclear policy
Thai protest TV back on air after confrontation
US says flights resumed at Kyrgyzstan base
Sri Lanka ruling coalition heads for election win
NKorea vows to keep building nuclear bombs
N.Korea parliament meets
Nokia buys location technology firm MetaCarta |
Kyrgyz victims mourned, US base fate on hold
S.Lanka ruling party wins parliamentary election
Apple unveils iAd platform; iPad sales look strong |
Facebook joins drive to get UK voters to polls |
Pakistani stocks, o/n rates up; rupee eases
China passenger car sales up 63 pct in Mar.
China shares rebound on bargain-hunting
Better US-China ties could speed currency change
S.Korean shipping firm seeking talks with pirates
VietJet AirAsia to take-off in August: Fernandes
India car sales leap 25%
Films poke fun at Jews, Muslims, suicide bombers
Group: China passenger car sales up 50 pct in Mar.
Hong Kong honors kung fu director with award
IMF team visits Pakistan, board meeting delayed
Spike in murders, shootings shakes New York
Blur to release first new single for seven years |
Just a minute with: Dr. Dre, rapper, entrepreneur |
Films poke fun at Jews, Muslims, suicide bombers |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01