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#1
07-31-2010, 08:06 AM
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China dice yuan convertible el objetivo final ...
China says convertible yuan the ultimate goal ...
 30 July 2010China says convertible yuan the ultimate goal BEIJING — China wants the yuan to be fully convertible and such currencies are generally free-floating, a top central bank official said Friday, six weeks after Beijing pledged to loosen its grip on the yuan. Yi Gang, a vice-governor of the People’s Bank of China and also the head of the State Administration of Foreign Exchange (SAFE), however gave no timetable for convertibility to be achieved. “Our ultimate goal is to make the yuan a convertible currency,” Yi said in an interview with China Reform magazine, according to a transcript posted on the SAFE website. “Generally speaking, the exchange rate of a convertible currency is free-floating,” Yi said, adding there was no “official timetable” as China is vast and its development is not balanced, making it hard to reach a consensus. China in July 2005 freed the yuan from an 11-year-old peg to the dollar and moved to a tightly managed floating exchange rate. But in mid-2008, policymakers effectively pegged the currency at about 6.8 to the dollar to prop up its exporters during the global financial crisis. Critics say the yuan could be undervalued by as much as 40 percent. Last month, the central bank pledged to loosen its grip on the yuan exchange rate and allow the currency to trade more freely against the dollar, albeit within a tight band. Yi said there were “no foundations for sharp fluctuations” in the yuan’s rate, but added the government had “conditions to keep the foreign exchange regime flexible”. This week, Beijing allowed an IMF staff report that said the currency was “substantially” undervalued to be made public for the first time in four years, reflecting its confidence that it can control the global debate on the yuan. In response to a question about the possibility of the yuan becoming a world reserve currency, Yi said Beijing would rather leave it to market demand than push for international acceptance of the unit. “First of all, it depends on the economic power of the country or the alliance of states; secondly, the cohesion and attractiveness of its culture; and thirdly, its political and military powers,” he said. “The culture and values behind a real reserve currency must be influential in the whole world.” AFP Links ~ China Currency Articles ... Posted by Kel at 7/30/2010 09:51:00 PM 
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El hombre que puede dominar la paciencia puede dominar cualquier otra cosa.  
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#2
07-31-2010, 08:07 AM
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China dice yuan convertible el objetivo final ...
30 de julio 2010 China dice yuan convertible el objetivo final BEIJING - China quiere que el yuan sea plenamente convertible, y esas monedas son generalmente de libre flotación, un alto funcionario del banco central dijo el viernes, seis semanas después de que Pekín se comprometió a aflojar su control sobre el yuan. Yi Gang, un vicegobernador del Banco Popular de China y también el jefe de la Administración Estatal de Divisas (SAFE), sin embargo no dio un calendario para la convertibilidad a alcanzar. "Nuestro objetivo final es hacer que el yuan en una moneda convertible", dijo Yi en una entrevista con la revista China Reforma, de acuerdo a una transcripción publicada en el sitio web de SAFE. "En general, el tipo de cambio de una moneda convertible es de libre flotación", dijo Yi, agregando que no había ningún calendario "oficial" como China es enorme y su desarrollo no es equilibrado, lo que hace difícil llegar a un consenso. China liberó en julio de 2005 el yuan de una clavija de 11 años de edad con respecto al dólar y se trasladó a un tipo de cambio flotante administrado con rigurosidad. Pero a mediados de 2008, las autoridades efectivamente vinculada a la moneda en alrededor de 6,8 por dólar para apoyar a sus exportadores durante la crisis financiera mundial. Los críticos dicen que el yuan podría ser subestimado hasta en un 40 por ciento. El mes pasado, el banco central se comprometió a aflojar su control sobre la tasa de cambio del yuan y permitir que la moneda a comerciar más libremente frente al dólar, aunque dentro de una banda apretada. Yi dijo que "no hay bases de fuertes fluctuaciones" de la tasa del yuan, pero agregó que el gobierno había "condiciones para mantener" el régimen cambiario flexible. Esta semana, Pekín permitió un informe del personal del FMI que dijo que la moneda era "sustancialmente" infravalorado que deberán hacerse públicos por primera vez en cuatro años, lo que refleja su confianza en que puede controlar el debate mundial sobre el yuan. En respuesta a una pregunta sobre la posibilidad de que el yuan convierta en una divisa de reserva mundial, Yi dijo que Pekín prefiere dejar a la demanda del mercado de presión para la aceptación internacional de la unidad. "En primer lugar, depende de la potencia económica del país o la anza de los estados, en segundo lugar, la cohesión y atractivo de su cultura y, por último, sus poderes políticos y militares", dijo. "La cultura y los valores detrás de una moneda de reserva real debe ser influyente en el mundo entero". AFP
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El hombre que puede dominar la paciencia puede dominar cualquier otra cosa.
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#3
07-31-2010, 11:28 AM
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Dios mío...estos chinos se dan más puesto que una srta...puñemaaaaaa que rv el yuan...para que pronto después podamos cambiar nuestros dongs...
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#4
07-31-2010, 01:14 PM
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Quote:
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#6
08-07-2010, 08:50 AM
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Dios los bendiga
A wonderful chart courtesy of the Council on Foreign Relations depicting what I described several weeks ago: Since announcing its renewed commitment to currency flexibility in the days leading up to the G20 summit, the appreciation of the yuan has been more symbolic than substantive…
click on the chart for a crisper image, or visit China’s Head Fake As I wrote several weeks ago (see Currency Manipulator): China’s strategy of publicly announcing a more flexible yuan policy in the days leading up to the G20 summit effectively deflected the debate away from the yuan. What’s more, China’s announcement was seemingly rewarded by a Treasury now more reticent to label it a currency manipulator. The interesting thing to me about the whole thing is that the yuan has barely budged since the announcement, rising less than 1% since late June. For a currency that some claim is undervalued by as much as 40%, that’s not likely to make much of a dent in persistent trade imbalances. According to the CFR In the run-up to the June G20 summit in Toronto, China came under significant U.S. pressure to loosen its currency peg to the dollar…Then one week before the summit, China announced that it would relax the peg, and indeed the renminbi (RMB) began to rise. The political tension dissipated. Yet since July 2nd, five days after the summit, the RMB has ceased rising. Taking stock then, China’s most recent flexible yuan policy announcement seems to have been wildly successful. It quelled political criticism. It effectively avoided having the yuan become a topic of discussion at the G20 meetings. And it was rewarded by both the Treasury and the IMF, neither of which labeled it a currency manipulator in post-G20 currency assessments – opting instead for the much more benign label “undervalued” (see the Treasury’s Interim Report on Exchange Rate Policy and IMF Yuan Debate). So in effect, China’s cheap talk has worked, …so far. The nagging question for US policymakers: Now what??
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...Muhammad Al-JOROFU 
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