Saturday, 21 November 2009

Chinability adds new page of news from US Asian Wire

A new page on Chinability contains full text and images of selected stories on Sino-US relations, American Chinese and Chinese citizens in the United States provided by US Asian Wire, America's most comprehensive targeted newswire. Just click on the logo:

Wednesday, 18 November 2009

China's depreciating currency

Since the onset of the global economic crisis, the Chinese yuan (CNY) has been re-pegged to the US dollar in an attempt by the Chinese government to reverse the collapse in exports. It had previously been allowed to rise against the US dollar from July 2005 onward. As a result, the yuan has been falling along with the US dollar against other major world currencies. After peaking at around 120 at the end of 2008 and the early months of 2009 it dropped to less than 112 by October 2009.