February 18, 2011 Headlines: Chinese Currency Manipulation, Export Restrictions, Hacking, and More
At the G-20 finance meeting today in Paris, Fed Chair Ben Bernanke defends U.S. policies, and (indirectly) calls out China on its undervalued currency.
The World Trade Organization is set to rule against China on raw material export restrictions.
Some Canadian government computers were hacked by China.
A Chinese Central Bank official says that China will not respond to outside pressure on the Yuan’s exchange rate.
The Obama Administration still has its doubts about a proposed tax holiday on overseas earnings.
With “hot money” flowing into its economy, China’s Central Bank raises reserve requirements. This is likely to have a chilling effect on Yuan appreciation efforts.
China protests the U.S. rejection of Huawei’s application to acquire security-sensitive patents from a U.S. firm. Coverage here and here.
Victor Shih—a noted China expert—helps to bust a myth on the Chinese economy. He says that State-owned enterprises still dominate, holding $10 trillion in assets.
China’s high-speed rail expansion may be in trouble—corruption at the top.
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