Robert Reich
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No, China's currency is not backed by gold. It is a mix of a currency that is pegged and free-floating. It is pegged to a basket of goods, where the value is allowed to float no more than 2% against a fixed value that is set daily.2 The Bottom Line Pegging the yuan is a stra...
"The use of local currency is, therefore, one strategic option," said Rousseff at the opening ceremony of the 9th NDB Annual Meeting in August. "By promoting transactions in local currencies, we also facilitate investment growth, helping governments and the private sector overcome the cash flow ...
The Japanese yen is not the only currency that has been troubled recently. At the end of last year, the exchange rate of the Korean won to the US dollar was less than 1300 Korean won to the US dollar, and it has now dropped to nearly 1380 Korean won to the US dollar. On April 16...
China has been accused of artificially depressing the value of its currency in order to keep the price of its goods lower than those produced by U.S. competitors. Lower Wages China is home to approximately 1.41 billion people, making it the most populous country in the world.1Thelaw of sup...
"The use of local currency is, therefore, one strategic option," said Rousseff at the opening ceremony of the 9th NDB Annual Meeting in August. "By promoting transactions in local currencies, we also facilitate investment growth, helping governments and the private sector overcome the cash flow ...
Drawing from the experience of past WTO case law, there is reason to believe that the WTO Dispute Settlement Body would fail to provide the United States with an effective remedy, seeing that the China currency issue is not a mere trade disagreement. Rather, it involves the exercise of a ...
Not all multi-currency accounts are created equally though - look out for genuinely local accounts (with local bank details) versus non-local currency accounts. How Airwallex can help with business bank transfers Airwallex is designed for the speed and flexibility required in the modern business ...
Here is a quotation from a recent article in Forbes: China’s mercantilist trade policy is another contributor to its asset bubble. By artificially depressing the value of its currency and making it difficult for locals to invest abroad, China has forced