Follow the Debate - Yuan Revaluation and Internationalisation News Archive August 2010
Follow the Debate
Yuan Revaluation & Internationalisation
You can scan the Articles over time and see it evolve and change
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
The Wall Street Journal China RealTime Report 24/8/2010
Kaixin OpEd – This is pathetic – tap tap tap on the watch, “It’s been three minutes and nothing has happened!”.
Is America ever going to grow up?
This fixation on the short term is like a teenager worried about zits.
China has made it abundantly clear. America’s economic woes are self-inflicted. China will integrate the Yuan into the international currency world at its own pace and on its own terms
Cries from desperate American politicians looking for someone to blame for their own incompetence is an un-edifying sight. Followed by the lap-dog American media....... and the U.S. thinks China has State control over the media.
Grow up America and take your medicine. Hard work and thrift will solve your economic woes, not shifting the burden onto another country.
The Wall Street Journal 24/8/2010
A Chinese Challenge for Rand
South Africa Weighs Cooling Currency, Which Has Been Juiced by Asia Demand
LONDON—As South African President Jacob Zuma visits China this week, he will be acutely aware of how important the world's largest country is to his own nation's currency.
South Africa's rand is sky high despite shaky economic fundamentals and violent strikes in recent months. The government is so concerned about the rand's rise, and its effect on exports, that it is considering a tax on financial inflows to bring the currency back down, a move that could supercharge the country's cost of borrowing.
And yet, the main factor behind the rand's strength, and a possible drop in the future, is ...
The New York Times 24/8/2010
Op-Ed Contributors
The Yen’s Lesson for the Yuan
AMONG the many points of tension between the United States and China, perhaps the single greatest one concerns exchange rates. For more than a decade, Beijing has kept the value of the renminbi, also known as the yuan, more or less constant to the dollar, a strategy that critics say increases the price of American exports to China and fuels the rapidly growing trade deficit with Beijing.
Caixin Online 20/8/2010
China Allows Yuan-Malaysian Ringgit Trading on Domestic Market
The Australian 20/8/2010
China turns to Asian currencies to ease reliance on greenback
CHINA is increasingly looking to its neighbours' currencies to lessen its reliance on the US dollar, both for investment and trade.
Slowing the pace at which it amasses US Treasurys, China has started buying more South Korean and Japanese government bonds.
The Wall Street Journal 20/8/2010
China's Investing Turns to Neighbors' Bonds, Currencies
BEIJING—As China takes steps to reduce its reliance on the U.S. dollar, it is increasingly looking toward its Asian neighbors instead.
China Daily 19/8/2010
China doubles ROK debt holdings, buys more Fannie bonds
BEIJING - China has accelerated steps to diversify its foreign reserves basket by doubling South Korean debt holdings and buying more mortgage bonds of Fannie Mae and Freddie Mac, the two largest US home funding companies.
The Wall Street Journal 18/8/2010
The Age 18/8/2010
China Daily 17/8/2010
Yuan has longest losing streak in year
The yuan weakened for a fifth day, the longest losing streak in a year, as slowing economic growth in China and Japan prompted investors to avoid emerging-market assets and favor the dollar.
The Wall Street Journal 13/8/2010
The Wall Street Journal 12/8/2010
U.S. Lawmakers Gear Up to Seek New Yuan Policy
WASHINGTON—The U.S. trade deficit with China in June hit its highest level in nearly two years and could spur congressional pressure on Beijing to revamp its currency policy.
The Wall Street Journal 11/8/2010
China Trade Surplus Widened in July
BEIJING—China's trade surplus for July widened to its highest level in a year and a half, government data showed Tuesday, likely adding to the pressure on Beijing to allow faster yuan appreciation.
Kaixin OpEd - Jeez, they don't give up, do they? See Kaixin's 'Yuan Revaluation & Internationalisation'
The Wall Street Journal 9/8/2010
Caixin Online 5/8/2010
Onward for Yuan Reform (Part I)
Global Times 4/8/2010
The Wall Street Journal 3/8/2010
Yuan Undergoes Hong Kong Lab Test
A burst of activity is under way here in the city that might be called China's in-house research-and-development center for currency liberalization.
Caixin Online 3/8/2010
Central Bank Unwavering on Yuan Reform
Forex Chief: Inflation Relieved Yuan Pressure
China Daily 3/8/2010
Debate: Forex Reserves
Are China's huge foreign exchange reserves, most of it in dollars, an advantage against the US? Two experts, a foreigner and a Chinese, present their views.
Caixin Online 2/8/2010
Central Bank Unwavering on Yuan Reform
China Themes
Yuan Revaluation & Internationalisation
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
Set in Zanzibar in 1910, it is the story of two people from different worlds falling in love. Susan immerses herself in Zanzibar. Asim falls in love with this woman from the nation that killed his wife. Susan is a spy. Asim is the chief advisor to the Sultan of Zanzibar. Germany and France are holding secret negotiations to form a Pan European alliance, which would isolate Britain and destroy her power. Susan and Asim are caught up in all this and their love is finally dashed on the cold, hard reality of international high politics.
Available on Amazon's Kindle $4.99 - Over 400 Pages
Chapter One
Zanzibar
'A maharaja’s ruby cast on a Persian carpet by the blackest of hands'
Their souls danced, honouring his promise.
The ancient dhow stirred in the soft morning breeze. Like a sleepy lion, it began to move through the water, snuffling about the other boats on the harbour; some scurrying, some at anchor, some darting before a brief gust of wind. The lateen sails a bustling panorama of blood-red and sun-bleached white.
Aft, the woman's eyes searched the skyline, drinking in the architecture of Stone Town, the heart of Zanzibar; its jagged, cluttered silhouette so familiar, so much a part of her soul.
Abruptly, her eyes ceased their restless searching, jagged by an invisible hook, transfixed by the grand buildings on the northern shore, Beit-al-Ajaib, the House of Wonders, Palace to the great Sultan of Zanzibar. The distinctive architecture captured in the tropical light: coconut white outlined by contrasting shadow plays of pepper black.
A smile, ever so slight, started to play on the edge of her mouth then disappeared. A memory that should have been fond instantly turned to sharp unbearable pain. Her eyes hardened and moved on.
Without warning the captain threw the rudder over. Stumbling, the woman barked her shin on a wooden box, a rough-hewn coffin. She recoiled, knocking over an untidy stack of cane baskets. Imprisoned in the baskets, rusty cockerels, their scruffy heads straining through the latticework, snapped at her, cried out to her; their raucous din overwhelming her, drowning her.
Dimly, through the fog of noise, the strident swearing of the sailors in Kiswahili seeped into her conscious. Understanding, she smiled mirthlessly.
The coffin had been carelessly stowed, a chore, rather than a labour of respect or love.
London 1910
“Hello, who are you? I am Oliver, is Edward at home?”
The words were spoken by a tall, impeccably dressed young man as he rushed into Edward’s flat shaking off surplus water and calling for whisky while shoving his umbrella into a stand. It was a blustery, grey, bitterly cold February afternoon in the heart of London. He brushed a curl of soft auburn hair from his forehead and smiled charmingly.
Susan laughed, her hazel eyes dancing with the exhilaration of the new. “Yes, he is having a bath. I think he is trying to get warm. I’m Susan, Susan Carey, his sister.”
“Ahhh yes, from Australia. How do you do?” said Sir Oliver, smiling broadly and offering his hand. He noticed the laughter in her eyes, and the depth, particularly the depth, intensified by jade flecks that made them striking and alluring. “So, you have arrived, good trip I trust.”
“I am very well thank you, and yes, it was a good trip,” replied Susan.
He laughed and glanced at the sitting room, “whisky?”
“Oh, I’m sorry, please come in…….. that was silly of me, after all, it is your flat.”
Oliver smiled and gestured for Susan to lead the way. He followed her into the room, and after helping himself to a generous portion of whisky, walked over to the fire.
Shortly after, Edward, wrapped in a huge ruby-coloured dressing gown and wiping soap from his ear strode into the room. He was of similar age to Oliver, late twenties, well built, if slightly podgy, with dark auburn hair and a full moustache. Susan looked up and smiled to herself, she could see now where he had picked up some of his new mannerisms.
“Thought I could hear voices. I see you two have met, no need for introductions then.”
As he was speaking, Edward walked to the side table and grabbed a whisky decanter by the neck. He glanced at Oliver who nodded. A long finger snaked into one of the tumblers followed by the distinctive clink of crystal. He swept the decanter off the table and carried it to where Oliver was sitting. After pouring the whisky, he sank into a lounge chair and sipped from his glass, enjoying the warm glow as it spread through his body.
Suddenly he sat up exclaiming, “Sorry sis, would you like something to drink?”
“Kind of you to remember, but no thank you, and yes, Oliver has already inquired.”
Edward nodded and sank back into his lounge chair.
They chatted, tentatively at first, getting to know one another. Edward had not seen Susan for two years and was unsure how his sister would take his new relationship. Oliver was intrigued by Susan. An attractive, self-assured young lady of high intelligence with a degree was a rare find. And, as fate would have it, she was also a trained and experienced teacher. He suggested a picnic at Oxford, which was met with ready acquiescence. Arrangements were made for the following Sunday.
“I’ll see if the Rolls is available,” mused Oliver. “Must ring father, haven’t spoken to him in ages.”
Oliver, Sir Oliver Marchmaine, was an unaffected young man of intense intelligence who saw life as a great adventure to be lived to the full. He was also unyieldingly loyal to his country, England, which is why he had joined Military Intelligence on leaving Oxford.
It was 1910 and Europe was stirring. It was a time full of interest, intrigue and danger. The European chessboard was becoming increasingly complex, the moves more subtle. A time when an unexpected move or feint could have profound consequences.
Regaining her balance, the woman’s eyes were drawn, hesitantly at first, resisting back to Beit-al-Ajaib. She wondered if it was still the same. Still the same centre of power and intrigue that had been so much a part of her life all those years before; that had defined her life.
She remembered those first few moments, remembered standing in the foyer of the palace, .………… remembered the breathtakingly beautiful Persian tapestry ........
The sea breeze stirred her clothes. She smiled a little sadly, and in her mind the tapestry gently swayed. Two small apparitions ran giggling up the stairs: two small exquisitely rich burkas disappearing along the first floor landing. Childish squeals of mischief and joy left in the air.......
“Move to seaward, you accused of Allah! Move!”
Her thoughts were clawed back to the dhow, the captain crashing the tiller over to avoid another boat on the crowded harbour. The woman instinctively ducked her head to avoid the heavy boom as it swung over her, the rusty cockerels squawked their raucous indignation, their heads straining through the latticework, relentless.
The collision avoided, the dhow continued on its way. The cacophony dying down to the occasional command by the captain or the cry of a seagull.
The woman's thoughts returned to Beit-al-Ajaib
…………. laughing and giggling, girls of seven or eight. A door on the first floor slammed and all sounds of them disappeared. Silence. The woman smiled. She could see herself, a young woman, dressed plainly, unselfconsciously, her sexuality tantalisingly just out of reach, hidden beneath the thin veil of her clothing. She remembered standing alone in the foyer, looking around, perplexed. Asim came through a door to the left of the tapestry.
“Salaam.”
The woman started and looked around. Then, realising, was cold again. Alone again. Alone, rocking to and fro to the rythm of the sea. Alone, beside a rough-hewn coffin.
Now Available on Amazon's Kindle $4.99 - Over 400 Pages
Graeme has been using ChinesePod since 2007
"I highly recommend ChinesePod, I haven't found any Online teaching programmes that come close."
