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Dictating to China has never really worked.
MGLICKER
Posts: 7,995 ✭✭✭
...especially since they control Boardwalk and Park Place.
(Reuters) - The United States warned Beijing on Monday that the recent depreciation of the Chinese currency could raise "serious concerns" if it signaled a policy shift away from allowing market-determined exchange rates.
Washington has been pressing China for years to allow its currency to trade at stronger values. A weak yuan makes Chinese exports cheaper for U.S. consumers at the expense of U.S. producers. A weaker yuan also makes Chinese consumers less able to buy foreign goods.
Last month, U.S. Treasury Secretary Jack Lew welcomed a decision by China to allow its currency to vary more against the dollar in daily trading.
Monday's comments by a senior official from the Treasury Department suggested the United States was not completely sold on China's intention to reduce authorities' interventions in exchange markets.
(Reuters) - The United States warned Beijing on Monday that the recent depreciation of the Chinese currency could raise "serious concerns" if it signaled a policy shift away from allowing market-determined exchange rates.
Washington has been pressing China for years to allow its currency to trade at stronger values. A weak yuan makes Chinese exports cheaper for U.S. consumers at the expense of U.S. producers. A weaker yuan also makes Chinese consumers less able to buy foreign goods.
Last month, U.S. Treasury Secretary Jack Lew welcomed a decision by China to allow its currency to vary more against the dollar in daily trading.
Monday's comments by a senior official from the Treasury Department suggested the United States was not completely sold on China's intention to reduce authorities' interventions in exchange markets.
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The things I don’t always agree with are always worth considering.
<< <i>The US would be better served focusing on its own financial house and it's own economic policy. Doing so would lesson the impact that others have on it. >>
This.
Here's a warning parable for coin collectors...
Digital wheelbarrows will be needed to buy a loaf of bread.
<< <i>The race to devalue currency is nothing short of remarkable.
Digital wheelbarrows will be needed to buy a loaf of bread. >>
I'm in China now amd an Interesting dilemma is brewing on future $/yuan price quotes which manufacturers and exporters calculate prices. For forever the yuan has been artificially suppressed by the Chinese against the dollar. Regardless it always strengthened but in a steady controlled manner so not to freak everybody out. Lots of folks counted on a 5.9rmb/1$ ratio in planning their business in 2014. However, a funny thing happened on the way up the great wall, the yuan vs the dollar has now actually started to reverse course or at least stalled. 6.2/1 seems to be a sticky number that is being managed. A small break for exporters ( who factored in a worse rate) and potentially a break for US customers.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Dictating to China has never really worked. >>
Sorta like me telling MasterCard how to run their business while they hold my maxed out credit.
The things I don’t always agree with are always worth considering.