6 h. ago MBTA railcar builder hit by seizure of components from China

MBTA railcar builder hit by seizure of components from China  trains.com

Events

13 h. ago Why China’s yuan is forecast to keep strengthening against the US dollar

Market optimism for the Chinese currency continues to rise, with analysts projecting the yuan to appreciate further against the US dollar amid a stronger-than-expected domestic economy and growing concerns over US debt sustainability. On Tuesday, the People’s Bank of China set its daily reference rate at 7.1534 per US dollar – strengthening from Monday’s 7.1656, and the strongest level since early November. In June, the onshore yuan appreciated by 0.41 per cent against the greenback, bringing...

Politics

4 d. ago ‘Summer Davos’ debate: is China’s yuan ready to challenge US dollar dominance?

As global confidence in the US dollar erodes in the wake of Washington’s “Liberation Day” tariffs, economists at the Annual Meeting of the New Champions debated whether China’s yuan could emerge as a credible alternative to challenge the world’s dominant currency. US President Donald Trump’s sweeping “reciprocal tariffs” on allies and adversaries alike marked “another step in the process of diminishing the role of the dollar as a global reserve currency,” said Diana Choyleva, senior fellow of...

Politics

4 d. ago Dollar is ‘America’s to lose’: experts argue at ‘Summer Davos’ amid yuan push

As global confidence in the US dollar erodes in the wake of Washington’s “Liberation Day” tariffs, economists at the Annual Meeting of the New Champions debated whether China’s yuan could emerge as a credible alternative to challenge the world’s dominant currency. US President Donald Trump’s sweeping “reciprocal tariffs” on allies and adversaries alike marked “another step in the process of diminishing the role of the dollar as a global reserve currency,” said Diana Choyleva, senior fellow of...

Politics

6 d. ago CNY/USD: China Seizes Moment to Globalize Yuan as Dollar Doubts Mount

CNY/USD: China Seizes Moment to Globalize Yuan as Dollar Doubts Mount  Bloomberg.com

Politics

6 d. ago China steps up push to internationalise the yuan as global dollar dominance wavers

China steps up push to internationalise the yuan as global dollar dominance wavers  Forexlive | Forex News, Technical Analysis & Trading Tools

Politics

6 d. ago China doubles down on promoting yuan as confidence in U.S. dollar takes a beating

China doubles down on promoting yuan as confidence in U.S. dollar takes a beating  CNBC

Politics

7 d. ago China’s Zou Jiayi, a former finance official, elected AIIB president

Former vice-minister of finance Zou Jiayi has been elected president of the Asian Infrastructure Investment Bank (AIIB), leading the lender and its US$100 billion in capital through a decisive moment for globalisation and development finance. The decision was announced at the Beijing-based bank’s annual meeting on Tuesday, held with representatives of its 110 member states and other stakeholders at its headquarters to celebrate its 10th anniversary. Zou, 62, will serve a five-year term which...

Politics

7 d. ago China’s yuan set to benefit as central banks report doubts about US dollar

Central banks are showing more interest in the Chinese yuan as doubts grow about the future of the US dollar, but this shift is not enough to challenge the greenback’s dominance in global reserves, according to a new survey. In its latest Global Public Investor poll released on Tuesday, the London-based Official Monetary and Financial Institutions Forum (OMFIF) said a net 14 per cent of reserve managers plan to increase their yuan exposure in the next two years, up sharply from the 2 per cent...

Politics

1 week ago China And The Digital Yuan: The Ultimate Battle Against Dollar Hegemony?

China And The Digital Yuan: The Ultimate Battle Against Dollar Hegemony?  Cointribune

Events

2 w. ago US$900 million seized as China helps Malaysia dismantle Tedy Teow’s scam empire

Chinese and Malaysian police have seized over 3.8 billion ringgit (US$900 million) of assets – including yachts and property – from a syndicate alleged to have duped millions of people throughout the Asia-Pacific with promises of high-return investments. The Ponzi scheme, which operated mainly in Penang state, is believed to be linked to the MBI Group, started by Malaysian Tedy Teow Wooi Huat, who was extradited to China last year after hiding in Thailand. Seventeen people were arrested last...

Economics

2 w. ago Dollar, yuan steady after US, China reach framework deal to ease export curbs

Dollar, yuan steady after US, China reach framework deal to ease export curbs  Reuters

Economics

3 w. ago ‘Chaotic era’: Chinese state media say LA protests are proof of a broken America

Chinese state media have sought to portray the escalating Los Angeles protests against President Donald Trump’s immigration policies as proof of a broken government and the lack of social cohesion in the United States. Such a framing, alongside a mix of gloating and schadenfreude on Chinese social media, comes amid sustained US-China tariff tensions and ongoing high-level trade talks in London. The state-backed Beijing Youth Daily, in a commentary published on its social media page on Tuesday,...

Events

3 w. ago Kenneth Rogoff and Yu Yongding on Trump, the dollar and the rise of the yuan

Welcome to Open Dialogue, a new series from the Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this inaugural edition, we invited prominent economists from both sides of the Pacific to reflect on the recent turmoil in global trade, the diminishing role of the US dollar and whether China’s yuan could – or should – take its place. Professor Kenneth Rogoff of Harvard University has repeatedly warned the US dollar is approaching...

Politics

3 w. ago Is the US dollar’s decline inevitable? Kenneth Rogoff and Yu Yongding weigh in

Welcome to Open Dialogue, a new series from the Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this inaugural edition, we invited prominent economists from both sides of the Pacific to reflect on the recent turmoil in global trade, the diminishing role of the US dollar and whether China’s yuan could – or should – take its place. Professor Kenneth Rogoff of Harvard University has repeatedly warned the US dollar is approaching...

Politics

3 w. ago US faces vape shortage as China tariffs, seizures hit Geek Bar

US faces vape shortage as China tariffs, seizures hit Geek Bar  Reuters

Events

3 w. ago ‘Big, scary moment’? What’s up with Section 899 and its ‘retaliatory’ taxes?

With the market taking a closer look at the “One Big Beautiful Bill Act” after it was narrowly passed by the US House of Representatives on May 22, a clause called Section 899 has caught the attention of investors worldwide by including a new set of “retaliatory” taxes on inbound foreign investment. As the bill now awaits Senate consideration, there are growing concerns that some of the most sweeping changes to the tax treatment of foreign capital in the US in decades could lead to a sharp...

Politics