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 ...
Many are wondering if China will respond to Trump's trade war by threatening a currency war. If it does, the world should call its bluff.
Even as dollar slips, Trump says Russia and China are playing 'currency devaluation game'
U.S. President Donald Trump accused Russia and China on Monday of devaluing their currencies while the United States raises interest rates. "Russia and China are playing the Currency Devaluation game as the U.S. keeps raising interest rates. Not acceptable!" Trump said in a Twitter post. Trump's ...
Financial experts warn China not to repeat Japan's foreign exchange mistake of 1980s
China should learn from Japan in the 1980s, and never allow a trade war to become a currency war, says Sheng Songcheng, a senior adviser to the People's Bank of China (PBOC). The current trade spat between the two biggest economies is reminiscent of tensions ...
Don't hype China's reserve currency moment
Hopes that entry into the IMF's currency basket would quicken the pace of reforms have been dashed.
China may face Japan-like slump unless yuan weakens, KKR says
China could be facing the same kind of anemic growth that Japan did in the 1990s unless it moves to weaken the yuan to alleviate the country's debt burden and fend off deflation, according to KKR & Co., one of the world's largest private ...
