Tagged: Renminbi

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China, Russia quit dollar in trade settlement

According to peopledaily: St. Petersburg, Russia – China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart...

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China “illegally subsidizing its industry?”

The Obama administration says it will investigate a complaint filed by the United Steelworkers accusing China of illegally subsidizing its clean-energy industries, in another sign of its newly assertive posture over China’s trade and...

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Disappearing Stores Of Value

by Martin Hutchinson Brazilian minister of finance Guido Mantega last week accused the major economies of starting “currency wars.” To a large extent he was trying to divert attention from his own overspending misdeeds....

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China is angry

“Do not work to pressurise us on the renminbi rate,” Mr Wen said, departing from prepared remarks. He said Chinese export companies had very small profit margins, which could be wiped out by actions...