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 ...
Specter of funding crunch looms over runs at China's small banks
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 ...
Trump flirts with currency war in escalating conflict with China
President Donald Trump on Thursday took a step closer to sparking a currency war in the escalating conflict with China, saying he is not happy with the strong dollar. Trump has pursued a policy of maximum pressure, including subjecting all Chinese goods to punitive tariffs ...
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 ...
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 ...
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 ...
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 ...
China must “graduate from” the Asian Development Bank’s easy money if it continues to tempt emerging economies with unaffordable loans, the finance minister says at the ADB’s conference in Fiji.
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 ...
Unilateral trade actions won't solve problems, says Chinese Premier Li Keqiang at Tianjin summit
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 ...
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.
Goldman sees yuan gaining in reserves at expense of dollar and yen
China's currency is set to take an increasing share of world foreign-exchange reserves, with the dollar and yen having to make the most room proportionally for the newcomer on the block, according to Goldman Sachs Group Inc. An acceleration in foreign inflows into Chinese fixed ...
