I think the criticism of
Chinese currency policy «over the last 5 years» is as myopic as any 5 year time - frame must be.
Both American corporate and individual borrowers and would pay a higher price without the dollar - recycling aspects of
Chinese currency policy.
Not exact matches
Michael Pettis, a professor of finance and economics at Peking University, is an expert in the
Chinese economy, and he has argued for years that China's trade surplus with the United States and the rest of the world is driven by much stronger forces that the value of the
Chinese currency or differences in tariff
policy.
The United States is pushing as
policy division of the world into rival
currency camps — the dollar area on the one hand, and the Russia -
Chinese - Shanghai Cooperation Organization group on the other, especially now that the IMF has changed its rules.
Chinese authorities had been propping up the yuan, contributing to an almost $ 300 billion drop in foreign - exchange reserves over the last four quarters, as
policy makers sought to deter capital outflows and encourage global usage of the
currency.
«The
Chinese government is set to announce a revision of its
currency policy in the coming days that will allow greater variation in the value of its
currency, combined with a small but immediate jump in its value against the dollar, people with knowledge of the consensus emerging in Beijing said Thursday.»
Both the New York Times and the Financial Times, citing confidential sources, reported today that the
Chinese government may announce a significant shift in its
currency policy in the coming days, a move that could cause the
Chinese yuan to rise in value against the dollar.
Oversea -
Chinese Banking Corp. and ABN Amro Group NV see gold sliding to $ 1,100 an ounce by the end of next year as the Federal Reserve tightens monetary
policy, real Treasury yields increase and the U.S.
currency rises.
While no specific
policies against crypto, digital, or virtual
currencies were offered in the statement, the position taken by Fan and the PBoC is indicative of the currently strict
policy of the
Chinese government on decentralized forms of payment.
«Whether it's
currency manipulation, theft of intellectual property or predatory trade
policies there are serious issues we must address with the
Chinese government.
(
Chinese economic
policy can influence other majors
currencies even though China does not allow their
currency to float on the international exchange)
However, a substantial cause of mining centralization is
Chinese government
policy, which distorts the digital
currency mining market.
Companies like IBM and Visa are clamoring for employees with blockchain skills, while the
Chinese and Russian governments hire cryptocurrency experts to help create their own tech - savvy national
currencies and economic
policies.
While no specific
policies against crypto, digital, or virtual
currencies were offered in the statement, the position taken by Fan and the PBoC is indicative of the currently strict
policy of the
Chinese government on decentralized forms of payment.
This educational stance possibly marks a new
policy approach from
Chinese authorities, focusing attention not on the activities themselves, but on providing «risk - tips» for their citizens regarding the dangers of virtual
currency and fraudulent Initial Coin Offerings.
But here's the thing, having studied many of these exchanges and seeing how government
policies are changing the rules of the game, I would rather be with an exchange that follows or is guided by the NewYork BitLicense than by a
currency that is under the
Chinese Government's purview.