“The move came as April exports blew past expectations, which appeared on the surface to indicate that both China’s economy and global demand were on the mend. But economists were quick to suspect the figures were artificially inflated by investors who were disguising speculative bets on the yuan currency as trade payments. Faced with the risk that such inflows could cause the yuan to appreciate so quickly that it destabilizes exports and the broader economy, the People’s Bank of China (PBOC) has begun intervening heavily in the domestic currency market this year, buying up dollars and selling yuan.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
America’s private prison system is a national disgrace
EU to help dairy sector hit by Russian food import ban
Italian showdown with Germany as Enrico Letta rejects 'death by austerity'
U.S. soldier could face death over Afghan massacre
Operation Dead-Mouse Drop
Greece's great fire sale
Drunk state trooper in head-on crash that killed a mother and daughter
Top Chinese official warn of 'empty cities' emerging in China
Obamacare 'fix' could add millions of dollars in government costs
Guantanamo camp burns through $900,000 a year per inmate
Lawsuit Filed Over Fatal Police-Involved Shooting At Housing Authority
Bitcoin Service Targets Kenya Remittances With Cut-Rate Fees
Caretaker: 107 year old was scared during SWAT shootout
The secret history of drones
It's the law: Washington state lawmakers don't get speeding tickets