Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (22922)	2/4/2005 8:00:57 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

[The overall trade surplus of China will be gone with no effort needed<g>]--"China offers trade salve" By Gary Duncan THE head of China’s central bank yesterday offered an olive branch to US critics of his country’s refusal to move more quickly to remove the yuan’s peg to the dollar. In an attempt to salve Beijing’s fractious relations with Washington over the issue, Zhou Xiaochuan, Governor of the People’s Bank of China, said that China would pursue moves to eliminate its world trade surplus. Washington is demanding that China revalue its local currency and scrap its peg to the dollar, which US critics blame for a flow of cheap Chinese imports into the US. In a further apparent overture to the US, Mr Zhou said that Chinese authorities wanted to take action to boost domestic consumer spending. Such steps would be aimed at shifting Chinese economic activity away from excessive investment into greater consumption but could also boost exports to China from the US and other Western economies. There is little expectation of a move on the yuan by China at today’s G7 meetings, however. Mr Zhou avoided discussing foreign exchange policy yesterday. business.timesonline.co.uk