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U.S.-China Strategic..May 9-10, 2011

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1 U.S.-China Strategic..May 9-10, 2011 on Tue Apr 26, 2011 10:40 am

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April 26, 2011
China and US to hold talks over currency issues


by Kay Murchie


China and the US are set to hold economic talks in Washington DC next month as the two countries endeavour to reach an agreement over currency issues.


The State Department announced yesterday: “The third meeting of the U.S.-China Strategic and Economic Dialogue (S&ED) will be held in Washington, DC, May 9-10, 2011.”


China has been under pressure to revalue its currency, the yuan. The US has previously expressed dissatisfaction that China is keeping the value of the yuan low to help its exporters at the expense of overseas competitors.


Trade groups have argued that the yuan, also referred to as the renminbi, is kept up to 40% below what its value should be against the US dollar.


Last June, Beijing loosened its currency peg and, while the move was welcomed, the US said the yuan had appreciated just 1.9% against the dollar since that time.


China has previously been accused of being a currency manipulator but Beijing has said keeping the yuan stable is “an important contribution” to global recovery and a sudden change in policy could negatively impact on the country’s export sector.


Although the yuan has gained almost 5% against the dollar in the last 12 months, many still argue that it remains undervalued.

2 Re: U.S.-China Strategic..May 9-10, 2011 on Tue Apr 26, 2011 11:32 am

chevy#3


...If China rv'd today without a basel III banking to back it,inflation would send the dollar to death! so it goes on without saying,..slow dollar death is what wer'e seeing. so why all the hype about china hasn'd rv'd yet?

3 Re: U.S.-China Strategic..May 9-10, 2011 on Wed May 04, 2011 9:25 am

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SNB and IMF to host High-Level Conference on the International Monetary System
Press Release No. 11/156
May 2, 2011

The Swiss National Bank (SNB) and the International Monetary Fund (IMF) today announced that they will jointly host a second High-Level Conference on the International Monetary System. The conference will take place in Zurich on May 10, 2011.

This conference will contribute to the ongoing debate about the reform of the international monetary system. The main topics include policy discipline and spillovers in a global economy, global liquidity provision at times of crisis, capital flows, and international reserve currencies.

The conference will bring together a group of high-level participants, including central bank governors, other senior policymakers, leading academics and commentators. It will be co-hosted by SNB Governor Philipp Hildebrand and IMF Managing Director Dominique Strauss-Kahn. The keynote speech at lunch will be given by Christine Lagarde, French Minister for Economy, Finance and Industry.


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