The Dollar, the Yuan, and Oil
Aggregated Source: China Venture News
January 28, 2008|
What if oil was priced for sale in euros instead of US dollars? Would the world (or America) be a different place?
I saw an excerpt of a very interesting interview in the German magazine Der Spiegel recently that talked about just that possibility. (Thanks to Dave at The Galloping Beaver blog for bringing the Der Spiegel interview to my attention.) But first...
It's no secret that the American government would like to see a stronger yuan. China has been faced for the last few years with something of a conundrum: it would like the yuan to be stable in relationship with currencies like the US dollar and the euro, but those currencies are themselves going in opposite directions.
When the yuan's value improves against the US dollar, the cost of Chinese goods at Wal-mart and Target goes up. Fewer American's buy them, companies in China suffer, and Chinese workers lose their jobs. So China doesn't want the yuan-dollar relationship to change too quickly. See full article.
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Copyright China Venture News
I saw an excerpt of a very interesting interview in the German magazine Der Spiegel recently that talked about just that possibility. (Thanks to Dave at The Galloping Beaver blog for bringing the Der Spiegel interview to my attention.) But first...
It's no secret that the American government would like to see a stronger yuan. China has been faced for the last few years with something of a conundrum: it would like the yuan to be stable in relationship with currencies like the US dollar and the euro, but those currencies are themselves going in opposite directions.
When the yuan's value improves against the US dollar, the cost of Chinese goods at Wal-mart and Target goes up. Fewer American's buy them, companies in China suffer, and Chinese workers lose their jobs. So China doesn't want the yuan-dollar relationship to change too quickly. See full article.
Related Entries:
China Frees Up Yuan (a Little) - 19 May 2007
Senate Banking Committee Approves Bill Aimed at Yuan - 01 August 2007
Six Yuan to the Dollar: Would That Be Nice? - 03 November 2007
The Dollar, the Yuan, the President, and the Price of Oil... a Rant, I suppose - 08 November 2007
Contents of this feed are a property of Creative Weblogging Limited and are protected by copyright laws. Violations will be prosecuted. Please email us if you'd like to use this feed for non-commercial activities at feeds - at - creative-weblogging.com.
Original URL: Click here to visit original article
Copyright China Venture News
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