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Jasonwelker bookmarked on 2009-11-03 China currency exchange rates trade

This article talks about the weak RMB and how it affects trade between the US, China and Europe

  • The Americans get the toys, the Chinese get the Treasuries and we get screwed.” Thus a European Union official once characterised the pattern of Beijing accumulating US assets by selling renminbis for dollars, while nothing stood in the way of a rapid and destabilising appreciation of the euro.
  • A string of countries including Thailand, Malaysia and South Korea have intervened either verbally or in the foreign exchange markets in recent weeks to slow the rise of their currencies.
  • Mr Lyons says that the east Asians are wary of allowing the same to happen to them. “There is a concern that if they let the exchange rate rise, it will attract a lot of hot money but hit confidence,” he says

This link has been bookmarked by 1 people . It was first bookmarked on 03 Nov 2009, by Jason Welker.

  • 03 Nov 09
    jasonwelker
    Jason Welker

    This article talks about the weak RMB and how it affects trade between the US, China and Europe

    China currency exchange rates trade

    • The Americans get the toys, the Chinese get the Treasuries and we get screwed.” Thus a European Union official once characterised the pattern of Beijing accumulating US assets by selling renminbis for dollars, while nothing stood in the way of a rapid and destabilising appreciation of the euro.
    • A string of countries including Thailand, Malaysia and South Korea have intervened either verbally or in the foreign exchange markets in recent weeks to slow the rise of their currencies.
    • 1 more annotations...