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The WTO Director-General Pascal Lamy said on Friday "a reevaluation of the yuan (Chinese currency) would only have a modest impact on the sales price of the final product and would probably not restore the competitiveness of competing products manufactured elsewhere." In his speech to the French Senate, Lamy regarded the current statistical gauge measur...
THE gap between imports and exports in China dropped off September, reducing pressure from the United States on Bejing to revalue the yuan that has been blamed for US economic troubles in the run-up to the US congressional mid-term elections on November 2. Premier Wen Jiabao has warned that increasing the value of the yuan as much as 25 per cent to meet...
As the U.S. dollar continues to depreciate, many other economies are being forced to intervene in the foreign exchange markets to devalue their own currencies. The world's main economies are trapped in a likely "currency war," which might hamper the recovery of the world economy. DEFINITION OF "CURRENCY WAR" Traditionally, a currency war refers to ...
The Chinese economy has played an significant role in the world's development over the past five years and it will be more important in the next five years, a senior Egyptian official said Sunday. Moustafa El-Said, head of the economic affairs committee of Egypt's People's Assembly (the Lower House of the country's parliament), said many economies, ...
U.S. Trade Representative Ron Kirk announced Friday that the United States had initiated an investigation into Chinese policies and practices in green technology sector to see whether they are in line with World Trade Organization rules. The probe, which was requested by the United Steelworkers (USW) in September, came amid worries that U.S. protectioni...
China's Ministry of Commerce (MOC) Saturday expressed "regret" over a U.S. government decision to investigate China's renewable energy policies, and said it would defend its interests in accordance with World Trade Organization (WTO) rules. The U.S. Trade Representative's office started the investigation on Oct.15 in response to the United Steelworke...
Bulgaria aims for China to become the largest foreign investor in the Balkan country by 2013, Deputy Prime Minister and Minister of Finance Simeon Djankov said Friday. "By the end of our mandate in 2013, I would like China to become the number one foreign investor in Bulgaria," Djankov said at the start of a meeting with Chinese Vice Minister of Commerc...
China's Ministry of Commerce (MOC) spokesman Yao Jian said Friday that China welcomes the U.S. intent to waive the embargo on the export of C-130 planes to China for use in oil spill response operations. Yao said China had taken note of U.S. President Barack Obama's proposal to end the restrictions on C-130 military transport aircraft sales to China i...
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