Explore stories from Atlantic Canada.
What's different a year after the wildfires? | SaltWire #novascotia #firefighting #wildfires #newsSHANGHAI - Currency markets are reading subtle signals from Chinese authorities as an indication they are slowly nudging the yuan lower to regain export competitiveness, but analysts say protracted yuan weakening is neither the intent nor desirable.
Based on nominal exchange rates, a bit of yuan depreciation makes sense. It has declined about 2% against the dollar this year, but an index of its value against its major trading partners is up nearly 3%, given the sharp 9% drop in the Japanese yen and the Korean won's 5% drop against the dollar in that period.
That's a modest decline, reflecting what most analysts suspect is the PBOC's mindfulness of the risks a weak currency while keeping an eye on trade competitiveness. Chinese manufacturers are also seeing their costs falling thanks to deflationary forces from weak consumption and investment at home. Neumann says a bit of currency depreciation could be part of Beijing's policy toolkit to raise prices of manufacturing inputs and give exporters a bit of extra incentive.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Explainer-South China Sea: Why are China and Philippines tensions heating up?Explore stories from Atlantic Canada.
Read more »
Analysis-After issuing factory capacity warning to China, Yellen faces tariff decisionsExplore stories from Atlantic Canada.
Read more »
Analysis-China's steel sector has bigger worries than Biden tariff hikeU.S. President Joe Biden's push to triple tariffs on Chinese steel imports strikes a mostly symbolic blow on an industry facing bigger concerns over...
Read more »
Analysis-China's steel sector has bigger worries than Biden tariff hikeExplore stories from Atlantic Canada.
Read more »
Analysis-New ASML boss Fouquet must navigate US/China chip warASML's new boss Christophe Fouquet faces a tricky balancing act in helping to steer Europe's biggest tech company through the US/China 'chip war', while...
Read more »
Analysis-Tesla's self-driving bid for China faces rivals racing aheadIf Tesla succeeds in bringing its 'Full Self-Driving' system to China, the world's largest car market, the U.S. electric-car pioneer will be shifting into...
Read more »