Business Jan 10, 2021
China’s rapid recovery puts U.S. dollar's global hegemony in doubt
by Susanne Barton
The U.S.’s struggle to control the coronavirus and revive its economy contrasts sharply with the Asian nation, where growth has roared back.
Business / Economy | FOCUS Dec 24, 2020
Japan prepares for digital currency, in line with China and others
by Takuya Okamoto
But the Bank of Japan is likely to take some years to decide whether to officially issue its digital currency, as are other major central banks.
Business / Economy Oct 12, 2020
China acts to slow yuan’s rapid ascent without halting its rise
Economic recovery, a yield premium in sovereign debt over Treasuries and the prospect of a Democrat victory in the U.S. presidential vote are all boosting the currency.
Business Jan 14, 2020
U.S. to lift China currency manipulator tag ahead of trade deal
Washington's abrupt declaration Monday that China is no longer a currency cheat — two days before the signing of a trade deal with Beijing — shows how U.S. President Donald Trump has turned a routine technical report on foreign exchange into a political cudgel. "It's ...
Business Nov 26, 2019
Specter of funding crunch looms over runs at China's small banks
by Cheng Leng and Ryan Woo
Bundles of yuan notes were stacked high behind the counters of branches of Yingkou Coastal Bank earlier this month, as the northeast China lender fought off a run on deposits while on-site government officials battled rumors of a funding crunch. Yingkou was the latest small ...
Business Aug 8, 2019
China fuels fears of currency war by setting weak yuan target rate
The Chinese central bank on Thursday set the yuan reference rate weaker than 7 to the U.S. dollar for the first time in 11 years and three months, deepening fears that the ongoing China-U.S. trade war will escalate into a currency conflict. The People's Bank ...
Business Aug 7, 2019
Trump shrugs off trade war concerns as China warns of market chaos
U.S. President Donald Trump on Tuesday dismissed concerns over a protracted trade war with China, as Beijing warned that Washington's decision to label it a currency manipulator would lead to chaos in financial markets. Trump, who announced last week he would slap a 10 percent ...
Business Jul 12, 2019
Goldman Sachs joins Wall Street chorus warning about possible U.S. FX intervention
The buzz around possible U.S. currency intervention is growing louder as Goldman Sachs Group Inc. has now weighed in on an idea that has been making the rounds on Wall Street. President Donald Trump's repeated complaints about other countries' foreign-exchange practices have "brought U.S. currency ...
Business / Corporate Jun 27, 2019
MUFG on track to be Japan's first yuan clearing bank after expected Abe-Xi deal at Osaka G20
MUFG Bank is expected to become the first Japanese bank to be designated as a yuan clearing bank, sources said Wednesday. Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping are likely to reach an agreement on MUFG's designation when they meet in the ...
Business Oct 17, 2018
China pares U.S. Treasury holdings for third month in bid to keep yuan from falling
China's holdings of U.S. Treasuries fell for a third consecutive month in August as the Asian nation struggles to prevent the yuan from weakening amid trade tensions with America. China's ownership of U.S. bonds, bills and notes was $1.165 trillion, down from $1.171 trillion in ...
Business Sep 19, 2018
Unilateral trade actions won't solve problems, says Chinese Premier Li Keqiang at Tianjin summit
by Sayuri Daimon
Chinese Premier Li Keqiang said Wednesday that unilateral trade actions will not solve any problems, stressing that multilateralism should instead be upheld. "It is essential that we uphold the basic principles of multilateralism and free trade," Li said in a speech at the World Economic ...
Commentary / Japan Sep 11, 2018
by Yoichi Funabashi
It seems highly likely that the current trade dispute between the U.S. and China will develop into a fierce conflict over currency and high-tech industries.