The onshore exchange rate of RMB against the U.S. dollar stopped falling briefly on April 26 under the policy adjustment of the People’s Bank of China (PBOC), but continued falling to close at 6.6115 on April 28, down 546 basis points from the previous trading day. An expert believes that the RMB exchange rate is…
Israel Is Mistaken About China
April 22, 2022
admin
Business & EconomyBusiness ColumnistsChinaGlobal ExpansionInternational RelationsIsraelOpinionSpecial TopicsThinking About Chinayuan
0 Comment
News Analysis Israel is America’s longtime friend and ally. We have been through a lot together. And Israel is a rare democracy in the Middle East. So when Israel’s central bank recently made plans to downgrade the U.S. dollar in its reserves and introduce China’s yuan, it really hurt. Friends should not do this to…
Russia Wants to Pay Debts in Chinese Yuan, Dollar Still Dominant
News Analysis The West has rejected Russian President Vladimir Putin’s demand that gas payments be made in rubles. China is offering the yuan, but prospects are dim. On March 23, Moscow listed 48 countries as “unfriendly” and said it would require these countries to pay for commodity purchases in rubles. Those countries— including European Union…
Bitcoin Won’t Replace the Dollar—but China’s Digital Currency Might
Commentary In 2009, bitcoin, the world’s first decentralized digital currency was created. Designed to replace the U.S. dollar, the global reserve currency, bitcoin has become a sort of Rorschach test for humanity. Some have compared it to rat poison; meanwhile, other people, like Eric Adams, the crypto-friendly mayor of New York City, are firm believers….
Beijing Wants to Make the Yuan International, Without Releasing Capital Controls
News Analysis Beijing wants the yuan to be truly global, but this will be impossible unless the Chinese Communist Party (CCP) releases its capital controls and allows the currency value to be set by the markets. Even then, the dollar will most likely continue to be the world’s currency. Over the past two months, the…
Could China Use Ukraine War to Challenge US Dollar Hegemony?
March 17, 2022
admin
Business & EconomyBusiness ColumnistsChinaChina Business & EconomycurrencyDollarOpinionrenminbiThinking About ChinaUkraine waryuan
0 Comment
Commentary Russia’s war in Ukraine, and the West’s response so far, has been a gift to China. The West’s strict sanctions on Russia have isolated the country from much of the world. It needs a financial lifeline. The war in Ukraine, and the West’s sanctions against Russia, is providing a unique opportunity for China to…
China Eases Control to Let Ruble Fall Faster Against Yuan
March 10, 2022
admin
Asia & PacificBusiness & EconomyChinaChina Business & EconomyChinese Regimeeconomic policieseconomyEuropeEurope-China RelationsInternationalInternational RelationsMarketsrubleRussiaRussia-Ukraine WarUkraineUS-China relationsWorldyuan
0 Comment
BEIJING—The Chinese regime is easing exchange rate controls to let the Russian ruble fall faster in value against the Chinese yuan to help insulate Beijing from economic sanctions on Moscow. The margin by which the ruble is allowed to fluctuate against the yuan in state-controlled daily trading will be doubled in size to 10 percent…
Ukraine Tensions Lift Dollar, Yuan Holds Firm
LONDON—The dollar rose to a two-week high on Monday against a basket of currencies, lifted by the tension between Russia and the West over Ukraine and the possibility of a more hawkish stance from the Federal Reserve this week. Markets were until recently not fretting about the massing of Russian troops on Ukraine’s borders, but…
China Seems Never to Have Left Its Old Development Model
News Analysis Off and on over the years, people—in the West and in China—have speculated how that country’s fast-developing economy will remake the world’s trading and economic system. During this time, it has also become popular to speculate about when and how China’s yuan will supplant the dollar as the world’s reserve currency. Official statements…
Dollar Drops as Rate-Hike Bets Profilerate Elsewhere, Yuan Hits 4-Month Peak
October 19, 2021
admin
Asia & PacificAustraliaBusiness & EconomyCanadaChinaChina Business & EconomyCompaniesDollardropEconomieseconomyEuropehikeInternationalInvestmentMarket WatchMarketsrateUKUSUS NewsWorldyuan
0 Comment
LONDON—The dollar retreated on Tuesday to a three-week low, hit by a proliferation in rate-hike bets in other markets, while the yuan surged to its highest in four months, benefiting from greenback weakness and a slight easing in property market concerns. A robust start to the U.S. earnings season and hopes that China will be…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`