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Difficult year ahead for China admits Premier Wen Jiabao

China faces a difficult year as it works to maintain economic growth and spur development, but it would not be bullied into boosting value of its currency says Premier Wen Jiabao.

By Gerry Davies  || March 14, 2010 at 11:07 GMT
Category: All, Budget/Politics, Economy, Europe, Geopolitics, Mkt News, Regions || Tags: , || 5 comments || Add comment
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China consumer inflation is major concern for year due to imported commodity prices – MOFCOM minister

Chinese Commerce Minister Chen Deming says rising inflation, imported via global commodity prices, is China’s major policy concern this year. The government has set a 3% inflation target for this year.

Meanwhile central bank chief Zhou Xiaochuan says February’s rise in inflation was in line with expectations.

By Gerry Davies  || March 11, 2010 at 07:12 GMT
Category: All, Central Banks, Economy, Europe, Mkt News, Regions || Tags: , || 0 comments || Add comment
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China yuan is not necessarily undervalued if resource and labour costs raised to international level – CBanker Wu

Comment won’t inspire too much hope in those looking for early, meaningful, revaluation of the yuan.

  • Recent loan curbs aimed to ensure even loans throughout the year, not serious tightening
  • Can contain inflation and asset bubbles if M2 and yuan lending targets are achieved this year
By Gerry Davies  || March 8, 2010 at 07:46 GMT
Category: All, Budget/Politics, Central Banks, Economy, Europe, Geopolitics, Regions || Tags: , || 0 comments || Add comment
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China risking property bubble with prices rising 20% a month

Chnia is in the midst of such a vast property boom, with prices leaping 20% a month in some regions, that developments are taking on fairly tale dimensions.

By Gerry Davies  || March 1, 2010 at 06:34 GMT
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Rogoff says China crisis may trigger regional slump

China’s economic growth will plunge to as low as 2% following the collapse of a “debt-fueled bubble” within 10 years,  sparking a regional recession, according to Harvard Professor Rogoff.  Maybe that’s why aussie got hit fairly hard earlier today. I think I’m only half joking.

By Gerry Davies  || February 24, 2010 at 12:13 GMT
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China CPPCC spokesman says yuan adjustment should be gradual

Oh, I’m sure it’s going to be gradual.

  • Yuan adjustment should not be “big fluctuation”
  • Won’t make sudden yuan change, China will be “prudent”
By Gerry Davies  || February 24, 2010 at 06:37 GMT
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China’s top leadership says to maintain appropriately loose monetary policy in 2010 – Xinhua

  • To balance objectives of growth and managing inflation expectations.
By Gerry Davies  || February 22, 2010 at 08:29 GMT
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China’s might masks doubts

The Chinese leadership remains anxious about the true strength of its economy and society.

By Gerry Davies  || February 20, 2010 at 20:30 GMT
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Euro zone GDP and industrial production disappoint

Euro zone Q4 GDP has come in at +0.1% q/q, -2.1% y/y, below median forecasts of +0.3%, -1.9% respectively.

At same time euro zone December industrial production has come in at -1.7% m/m, -5.5% y/y, demonstrably weaker than median forecasts +0.2%, -1.5% respectively.

This poor data, combined with news China has raised reserve requirements, has sent EUR/USD sharply lower. We’re presently down at 1.3565.

Guess theyll be some 1.3550 barrier option interest.

By Gerry Davies  || February 12, 2010 at 10:15 GMT
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China raises reserve requirements by 0.5%

EUR/USD , GBP/USD, USD/JPY lower as risk aversion heigthened. .

By Gerry Davies  || February 12, 2010 at 10:00 GMT
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