The yuan will be dollar threat status?
The United States congress established an independent commission said that within a decade, the yuan against the dollar in international may be the leading position of a threat.
The u.s.-china Economic and Security assessment committee (US-China Economic and Security Review top annual report Wednesday, said Beijing RMB internationalization efforts to promote, is successfully develop RMB of site.
'one thing no longer unthinkable, that is likely to challenge the dollar, it may be in the next five to 10 years,' by William & bull; Rice was because (William Reinsch) as chairman of the committee said. Rice was also is for business group, the American foreign trade council (NFTC) chairman.
"China's financial department and foreign enterprise and the financial center set up a series of bilateral arrangement, is this ambition to lay the foundation. '
The report also says China is continue to aggressively intervention domestic economy, used means including: provide subsidies to state-owned enterprises and protection, forced the foreign investor transfers technology of the law, and to the Chinese enterprise only open government procurement (the so-called 'independent innovation' policy).
'American business leaders and officials for the protest, Chinese officials, including President hu jintao) has promised revision of the independent baseball hats innovation in China policy, "the report said. 'but, these commitments is still not in local and provincial level to get cash. '
In recent years, Beijing has gradually relaxed for international trade to the control, and related pilot in Hong Kong.
Chinese authorities are still of cross-border capital flows of control implementation, and continue to mass intervening, to keep the RMB exchange rate. Peterson Institute for International Economics (Peterson Institute for International Economics) to underestimated the amplitude of the estimation, often as authority by the United States congress reference data. The think-tank said this week, because RMB modest rise and China's inflation rate, at present the RMB than China's main trading partners of the currency undervalued by only 11%, lower than the 16% in April this year.
But the institute said, according to the basic equilibrium exchange rate (FEER)...... Economies of normal output enough to let the economy recovery of current account roughly balance monetary value...... Estimate, the MLB Jerseys yuan against the dollar is still 24% undervalued.
Obama senior government officials, including the United States trade representative RON & bull; Kirk (Ron Kirk) and business secretary John & bull; Cloth LaiSen (John Bryson), will travel to China this weekend at the joint commission on commerce (JCCT) meeting, this is the two governments will hold bilateral talks related affairs of the main BBS. China has promised to produce by the end of the revised in the government procurement agreement (GPA) to join application, this is the world trade organization (WTO) internal an agreement to let the public sector contract accept international bidding.
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