Free Republic

The yuan is likely to be fully convertible and on the way to being one of the world's major currencies by 2020, according to some experts. China's leading stock exchanges are also likely to be opened up to foreign investors and Chinese fund managers will have an impact on markets around the world. Stuart Leckie, who runs Hong Kong-based consultancy Stirling Finance and has 30 years' experience in the pensions and investment industry in the region, says the next decade will be pivotal as China begins to wield its influence on the world's financial system. "I would expect the yuan...

Asia: what if RMB yuan appreciated The appreciation of RMB yuan will incur more disadvantages than advantages to the sustainable development of the Chinese economy, nor will it help improve the Japanese and American economies. It will hurt rather than promote the recovery and stable development of the Asian economy. All these give no reason to RMB appreciation, particularly a sharp appreciation at the present moment. Much talking is swirling around the world on the yuan appreciation these days. Countries like Japan and the US are pressing China hard to adjust its exchange rates to push the yuan value higher....

WASHINGTON - A U.S.-China working group which the Bush administration hopes will pave the way for China to stop linking its currency to the dollar will hold its first meeting this week in Beijing, the administration announced Monday. The six-member U.S. delegation will meet with officials from China's central bank and other Chinese government agencies to discuss various financial issues, including currency and banking matters. The U.S. team is led by Assistant Treasury Secretary David Loevinger and includes officials from various government agencies. Creation of the working group was one of the major outcomes of a summit meeting last fall...