Global Macro Perspectives
Very interesting comment in the todays Financial Times dealing with the China/U.S./U.K. currency stand-off in 1930s. The roles are a little bit changed but the lessons learnt are interesting in todays context. Finacial Times article: Lessons from the 1930s for a rising renminbi.
Chinese Prime Minister Mr. Wen Jiabao delivered a pretty straight forward answer on the U.S. led calls for a yuan appreciation. China official stance is: Yuan is not undervalued; the calls for a Yuan appreciation are clear protectionist acts – they plan to support China export led growth; China is concerned about its U.S. dollar […]
A lot of economic announcements from China today. So, let’s start. China’s industrial production rose 16.1% in October from a year before following 13.9% rise in September. The export decline slowed to 13.8% in October (year-on-year). If we adjust for holidays, it was down only 9.1% . The trade surplus rose to 23.99 billion USD […]