Since 1976, the US dollar’s role as an international currency has been slowly waning. International use of the dollar to hold foreign-exchange reserves, denominate financial transactions, invoice trade, and as a vehicle in currency markets is below its level during the heyday of the Bretton Woods era, from 1945 to 1971. But most people would […]
Some well-known names in China’s cabinet, including central banker Zhou Xiaochuan, and senior provincial officials, entered leadership of the country’s top political advisory body. The leaders that comprises a chairman and 23 vice chairpersons were elected by members of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC). Yu Zhengsheng, 67, a member of […]
China’s central bank governor said convertibility will be the next step in the overhaul of the exchange-rate system as calls grow for the nation’s new leadership to deepen changes in the economy to sustain growth. “For the central bank, I think the next movement related to the yuan is going to be reform of convertibility,” Zhou Xiaochuan said at […]
China and Japan, the world’s second- and third-biggest economies, indicated support forEurope’s new rescue fund as they pushed for quick implementation of measures to solve the region’s crisis. China will “cooperate” with the European Stability Mechanism, a permanent 500 billion-euro ($648 billion) fund that started this week, People’s Bank of China Deputy Governor Yi Gang said […]
looking beyond borders 