Tag Archives: Barack Obama

A Revalued Yuan: Will It Improve the United States Trade Balance?

Yesterday morning, news reports were filled with headlines that President Barack Obama had “vowed to get tough” with China on its currency. By the end of the day, the headlines told how China was “hitting back” over Obama’s criticism of its currency policy. And so it goes. A currency dispute between the two superpowers now […]

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Copenhagen: A Failure of Leadership

It was supposed to be history in the making when representatives from 192 countries met in Copenhagen to formulate a global solution to what some believe is the biggest problem facing mankind. Instead, it degenerated into a sometimes tawdry display of finger-pointing and trading of barbs between representatives from the developed countries of the world […]

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Welcome to Negotiations, Chinese Style

Courtesy of The Wall Street Journal, a few snippets on the ongoing discussions in Copenhagen. Developing countries at the United Nations climate summit demanded that rich nations commit money and accept sharper cuts in their emissions, highlighting the divisions among the world’s rich and poor nations that stand in the way of a new global […]

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Interesting Twist on China’s Currency

Interesting Twist on China’s Currency

When I first came to China in 1992, the official exchange rate for the renminbi against the US dollar was fixed at 5.5 to one, and foreigners could only use Foreign Exchange Certificates–FEC in the vernacular of the day–for their purchases in the country. High inflation in 1993 and 1994, however, caused black market rates […]

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One Visit: Two Different Stories

One Visit: Two Different Stories

It was very interesting to note the differences in Tuesday’s coverage of President Obama’s visit to Beijing by The Wall Street Journal and the China Daily. The lead story on Obama’s trip in The Wall Street Journal focused on the sharpest public critiques by Chinese officials towards U.S. policy that I have seen in some […]

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A New World Order

A New World Order

When past U.S. presidents have visited China, discussions with their Chinese counterparts have been largely limited to trade and human rights. This time around, when President Barack Obama comes to Beijing, it will be different. Never has the agenda between China and the United States been so broad. The list of items that President Obama […]

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How Much Are China’s Railroads Worth?

How Much Are China’s Railroads Worth?

The big news out of the United States this week was the $26.6 billion bid by Warren Buffett’s Berkshire Hathaway for the 77 percent of the stock of Burlington Northern Sante Fe Corp. that it doesn’t already own. Taking into account Burlington Northern’s debt of $10 billion, Buffett’s offer values the company at $44 billion. […]

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America’s China Agenda at Risk

America’s China Agenda at Risk

The true cost of President Barack Obama’s decision to slap a 35 percent tariff on tires imported from China will begin to be felt this week. So far, China’s response to the protectionist measure appears to be limited to a “tit for tat” action against chicken and auto parts exports from the United States. With […]

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Inflection Points In China’s Economic Development

When the economic history of China is written, it will show that, to date, there have been three major inflection points in the country’s economic development — events that have triggered major changes in the direction of the country. First, of course, was the opening of China to the outside world under Deng Xiaoping in […]

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Secretary Clinton and China: So Far, So Good

I’m often asked what the Chinese think of the election of Barack Obama. This is a question that has several answers. On one level, the election of an African-American as President of the United States has reinforced in the minds of the Chinese how unique and different the U.S. is as a country. On another, […]

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