By now, most of you have read the comments by Chinese Premier Wen Jiabao at his annual press conference. However, there are some aspects worth expanding on for their importance. With arm sales to Taiwan, Dalai Lama meeting, and the Copenhagen climate talks all important areas for questions, the very first question he was asked and addressed dealt with the currency. This doesn’t happen randomly. Clearly, this issue is of critical importance to the Chinese. “First of all, I do not think the renminbi is undervalued…We are opposed to countries pointing fingers at each other or taking strong measures to … …READ MORE
Tag Archives: Wen Jiabao
China's Inflation and Currency Problem
December 28th, 2009
Chicago, Illinois
Andrew B. Busch
Global Currency and Public Policy Strategist
(312) 845-2879
1-800-438-0434
Next Speech
Follow me on Twitter
With Chinese Premier saying no to yuan appreciation and US holiday retail sales better than expected, the greenback is marginally lower against most major currencies in thin trading. The US dollar index is down .12 at 77.60. Australia, UK, Germany, and Canada (and others) are out for Boxing Day……I’ll do the OIS tomorrow when everyone gets back.
10:30 Dallas Fed Manufacturing Outlook
12:00 PM ChicagoFedMidwestManufacturing Index
1:00 PM Results of $44B, 2-Year Note Auction
4:30 PM Money … …READ MORE
Obama Focus on Far East
US Treasury Secretary Tim Geithner has been hitting the air waves and the editorial page during his trip to the APEC conference in Singapore. From Bloomberg to CNBC, Geithner has been consistent in stating that it’s very important the US maintain a strong dollar. However, he is advocating the opposite for the Asia-Pacific nations.
In an editorial in the Asian WSJ with the finance ministers of Indonesia and Singapore, Geithner said. “Market-oriented exchange rates in line with economic fundamentals will be essential in assuring the resource and sectoral shifts to match and foster the new patterns of demand.” Clearly, they … …READ MORE
