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| | Encyclopedia: Renminbi |
 | | It was issued to unify and replace the various currencies of the communist-held territories as well as the currency of the Nationalist government. | | | During the era of the command economy, the value of the RMB was set to unrealistic values in exchange with western currency and severe currency exchange rules were put in place. | | | The People's Bank of China also announced that the renminbi would be pegged to a basket of foreign currencies, rather than being strictly tied to the U.S. dollar, and would trade within a narrow 0.3 percent band against this basket of currencies. |
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http://www.nationmaster.com/encyclopedia/Renminbi
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| | Renminbi services for designated merchants |
| | Renminbi time deposit account may only be opened where the customer has, or opens at the same time, a renminbi savings account under the same name and account number. | | | The new renminbi services are only applicable to merchants in retail sales, catering, accommodation or those engaged in the provision of transportation, communication, medical or education services. | | | Open renminbi savings account now and enjoy monthly fee waiver and special discount on selected insurance plans. |
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http://www.hsbc.co.id/hk/commercial/chinabiz/ren40100s.htm
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| | Op-ed: A Modest Proposal for China's Renminbi |
| | The current debate on the renminbi exchange rate is appropriate given China's role as a leading economic and trading power. | | | As long as China maintains controls on capital outflows, runs surpluses on both the underlying current account and capital account and accumulates reserves, there is a compelling argument that the renminbi is undervalued. | | | But an appropriate dollar depreciation will be frustrated if the Asian economies do not do their part on currency appreciation. |
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http://www.iie.com/publications/papers/goldstein0803.htm
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| | FT.com / Home UK - Facts and issues surrounding the renminbi |
| | The renminbi’s value has been blamed for rising unemployment and rising trade deficits in other countries and for exporting deflation to the rest of the world. | | | In fact, the renminbi’s trading value has not depreciated against the currencies of some of its trading partners, including Japan and Malaysia, in recent years. | | | This does not necessarily mean that a stronger renminbi will favour their own exports, since a number of Asian currencies are also considered undervalued. |
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http://news.ft.com/cms/s/5e5f5ba4-bc7d-11d9-b1e3-00000e2511c8.html
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| | The Effects of a Renminbi Devaluation on ASEAN Economies: An Applied General Equilibrium Approach, by Robert R. Teh Jr. |
| | While the direct impact on ASEAN of a renminbi devaluation is expected to be sector-specific as well as probably country specific, there are other risks associated with a renminbi devaluation that have to be taken into account. | | | The results suggest that while a renminbi devaluation only has a small effect on total ASEAN exports, there is substantial sectoral impact on exports of textiles and apparel as well as other manufactures. | | | The results suggest that while a renminbi devaluation only has a small effect on total ASEAN exports, there is substantial sectoral impact on ASEAN exports of textiles and apparel as well as other manufactures. |
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http://www.aseansec.org/2826.htm
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| | China Can Gain from Unshackling its Currency |
| | It was hoped that allowing foreign participation would speed development of China's financial markets, but these benefits have not materialized, as the foreign investors allowed into the Chinese markets have kept much of their quotas in bank accounts rather than investing in Chinese stocks and bonds. | | | Although foreign capital is not a panacea for China's problematic capital markets, the restraining effect of the peg on financial liberalization is costly. | | | These options have undesirable effects: More debt requires the government to divert more of its revenue to interest payments, and large-scale money creation leads to higher inflation. |
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http://yaleglobal.yale.edu/display.article?id=5540
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| | Matthew Yglesias: Crouching Renminbi, Hidden Yuan |
| | To the extent that GE and Ford are raising funds in the US to invest in china, their actions are putting pressure on the dollar to depreciate and the renminbi to appreciate. | | | The dollar would obviously not be a good reserve currency, the renminbi might. | | | your assessment of ford (and GE's) interests are right, but unless they are willing to borrow in renminbi, sell the reniminbi for dollars and then invest in the US (this is a hypothetical -- chinese controls make this trade difficult), then they need the bank of china to support the current exchange rate. |
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http://yglesias.typepad.com/matthew/2004/08/crouching_renmi.html
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| | A Look at China's New Exchange Rate Regime (2005-23, 9/9/2005) |
| | As such, the movements in the currency index would not necessarily be representative of the desired path for the renminbi under China's new exchange rate regime, even if the country weights assigned to the index were appropriate. | | | The PBOC has made no commitment to follow such a trade-weighted index peg rigidly, stating that other current account considerations, such as the share of major currencies in foreign debt and foreign direct investment will also be considered. | | | On July 21, 2005, after more than a decade of strictly pegging the renminbi to the U.S. dollar at an exchange rate of 8.28, the People's Bank of China (PBOC 2005a) announced a revaluation of the currency and a reform of the exchange rate regime. |
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http://www.frbsf.org/publications/economics/letter/2005/el2005-23.html
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| | Why we must wait to free-float the renminbi (China) |
| | The renminbi (literally means "people's currency") is the official currency of the People's Republic of China. | | | Sudden movements of the renminbi before China has a solid financial system would be disastrous. | | | A sudden revaluation of the renminbi would disrupt results for the many multinational companies (Philips included) that supply American and European retail chains with goods made in China. |
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http://www.freerepublic.com/focus/f-news/980095/posts
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| | Edge Perspectives with John Hagel: Renminbi Blowback |
| | It may even be at least in part an "unnatural" competitive advantage if the Chinese government is artificially holding down the value of its currency. | | | On Thursday, the Chinese government responded to intense U.S. government pressure and revalued the renminbi. | | | The business press naturally is giving this a lot of coverage - for example, see The Economist, the Financial Times and the Wall Street Journal. |
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http://edgeperspectives.typepad.com/edge_perspectives/2005/07/renminbi_blowba.html
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| | Why China won't devalue - Forbes.com |
| | And were it not for illegal capital flight (private parties selling renminbi and buying foreign currency) of almost $70 billion last year, official foreign reserves would be significantly larger. | | | And the most important balance is the change in official reserves, the amount of foreign currency the central bank has had to buy or sell to maintain the peg. | | | It ordered foreign banks with renminbi accounts at Chinese banks to close those accounts, giving them a week to do it. |
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http://www.forbes.com/columnists/global/1999/0920/0218068a.html
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| | China revalues renminbi FT chanahn.org |
| | The Japanese currency rose on market expectations that a stronger renminbi would mean other countries in the region would be prepared to let their own currencies strengthen too....... | | | The PBOC said it would re-peg the renminbi to Rmb8.11, from Rmb8.2765, and it would adopt a currency basket for managing the currency. | | | Shortly after China’s announcement, Malaysia said it would alter its peg and allow the ringgit to fluctuate freely and Singapore, whose currency is tied to a trade-weighted basket of currencies, was also due to make an announcement....... |
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http://www.chanahn.org/portal/node/315
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| | Cynic's Delight: Hot Money and the Renminbi |
| | If the PBoC is forced to conduct large and sustained interventions in the foreign exchange markets to keep the renminbi stable, their ability to sterilize these foreign exchange purchases through the issuance of domestic renminbi denominated debt will steadily decrease. | | | That said, there are ways around the lack of currency convertibility, and everyone from hedge funds to overseas Chinese to corporate exporters and importers are said to be bringing speculative investments into China. | | | Given that their hard currency reserves should approach the 1 trillion dollar level within the next year or so, I’m not sure I’d bet against the PBoC’s ability to throw its weight around in foreign exchange markets. |
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http://cynicsdelight.blogspot.com/2005/08/hot-money-and-renminbi.html
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| | Brad DeLong's Semi-Daily Journal: Does the U.S. Want the Renminbi to Rise Now? |
| | As for the renminbi, the best change (if any) would be to re-peg to a basket of currencies. | | | Brad Setser wonders if the U.S. really wants the renminbi to go up by a lot, right now: a fall in China's (and other central banks') purchases of dollar-denominated assets reduces the value of the dollar and so boosts demand for U.S. firms in export and import-competing industries, and raises dollar interest rates, reducing investment. | | | A recent Goldman study indicates that even a 10% rise in the renminbi's real value would cut the growth in China's exports by 15%. |
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http://delong.typepad.com/sdj/2005/04/does_the_us_wan.html
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| | Brad DeLong's Semi-Daily Journal: Will China Allow the Renminbi to Appreciate? |
| | In general, Chinese policies favor net inflows of foreign direct investment,encourage exports over imports, and —most importantly— discourage other types of private financial outflows, largely by limiting the amount of dollars that China’s residents might hold and their ability to invest in foreign assets. | | | The chinese banks collect dollars and pay renminbi to foreigners for their imports. | | | Europe led to a surge in investment in China's export sector.... |
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http://delong.typepad.com/sdj/2005/09/will_china_allo.html
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| | Renminbi change "initial" step but threat from hedge funds feared |
| | Last Thursday, China raised the level the renminbi trades against the US dollar by 2.1 per cent to Rmb 8.11, and said the currency would now fluctuate against a basket of currencies. | | | Li said that the state of China's banks is a key reason why the government won't allow the yuan to become a fully tradable currency anytime soon. | | | However, Zhou said the shift was unlikely to have much impact on the US trade deficit. |
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http://www.finfacts.com/irelandbusinessnews/publish/article_10002683.shtml
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| | RGE - So private Chinese citizens now prefer renminbi to dollars ... |
| | The renminbi is the hard currency now!" shouts a 40-year old man after pulling $10,000 out of U.S.-dollar-denominated stocks and plunking the sum into yuan deposits. | | | Overall foreign currency deposits (the translation is not 100% clear if this is overall deposits or household deposits, a chart would really help) seem to have fallen $3.2 billion in November. | | | Anecdotally, there is a bank on the internet (I don't feel like advertising for it) that will let you (a US investor) open an account denominated in renminbi. |
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http://www.rgemonitor.com/blog/setser/91307
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| | Pegged Down |
| | That's the considered reaction of the experts to the recent decision of the Chinese authorities to allow the renminbi to increase in value by 2.1 percent and fluctuate 0.3 percent daily, and to switch from a dollar yardstick to a basket of currencies. | | | There seems to be general agreement that the revaluation will not do much to reduce our trade deficit with China. | | | At this writing, trading in one-year contracts shows that the market is predicting a further 4.6 percent revaluation, bringing the total to 6.7 percent. |
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http://www.weeklystandard.com/Content/Public/Articles/000/000/005/915nawkg.asp
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| | Paul van Eeden's Weekly Column on Kitco |
| | The magnitude of the renminbi’s revaluation against the dollar is totally insignificant, but it was interesting that China will in future peg the renminbi against a basket of currencies. | | | They did not say which currencies make up the basket, although one can assume that it would include the dollar, the euro and the yen. | | | During the Mexican peso crisis in 1995 the price of gold in pesos doubled. |
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http://www.kitco.com/weekly/paulvaneeden/jul222005.html
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| | East Asia & Pacific - IFC Panda Bond Launch Opens Renminbi Bond Market to International Institutions |
| | The IFC issue marks the opening of the Chinese renminbi bond market to international financial institutions. | | | "IFC's renminbi bond issue represents a small but important step for | | | This transaction provides a model for future high-grade issuers and helps deepen the overall capital markets. |
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http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/EASTASIAPACIFICEXT/0,,contentMDK:20676002~menuPK:208952~pagePK:146736~piPK:146830~theSitePK:226301,00.html
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| | Valuing the Renminbi |
| | After reviewing the historical trends in the exchange rate and foreign trade, the paper assesses the appropriate level of the exchange rate from the perspectives of : (1) purchasing power parity, (2) macroeconomic balance, and (3) the accumulation of reserves in a fixed exchange rate regime. | | | This paper examines the debate over the proper valuation of the Chinese Renminbi (RMB). |
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http://www.brookings.edu/views/papers/bosworth/20040209_bosworth.htm
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| | Morgan Stanley |
| |   But when the currency in question is the Chinese renminbi, it is time to revisit our currency assumptions around the globe. | | | Rarely has such a small currency move attracted so much attention. | | | Whatever the adjustment that the Chinese have in mind for the renminbi — a modest move or even a 15% or 20% move that some analysts are calling for — it is difficult to imagine that it will dramatically change the global trend toward shifting manufacturing capacity to China. |
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http://www.morganstanley.com/GEFdata/digests/20050726-tue.html
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| | China; Economy, Trade, Yuan, Renminbi |
| | A shift to a basket system would tie the yuan's value to the combined exchange rate of a handful of currencies from major trading partners. | | | The yuan has been pegged to the U.S. currency since 1996 and trades in a razor-thin band from 8.276 to 8.280 under what Beijing calls a ``managed float.'' | | | Markets have speculated China could still revalue the yuan, also known as the renminbi, at a stronger rate against the dollar or widen the band in which it is allowed to trade. |
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http://www.suite101.com/discussion.cfm/investing/68780/943787
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| | Dr. Chadblog: renminbi unpeg and cnooc related? |
| | This is why I felt the US should have let CNOOC's bid go through at all costs. | | | Right off the bat its hard not to view China's decision to float the renminbi as a response to the blocking of CNOOC's bid for Unocal. |
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http://chadwilliams.blogspot.com/2005/07/renminbi-unpeg-and-cnooc-related.html
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| | Cynic's Delight: Reevaluating a Renminbi Revaluation |
| | Senators Chuck Schumer and Lindsey Graham weighed in today in an op-ed in the NY Times that plugs their proposed legislation imposing trade tariffs unless the Chinese revalue. | | | Calls for a renminbi revaluation are becoming rather more pronounced these days. | | | First, Chinese goods will suffer more of a decline in competitiveness compared to other exporting nations than to US products. |
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http://cynicsdelight.blogspot.com/2005/06/reevaluating-renminbi-revaluation.html
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| | China told by US to revalue renminbi by 10% - Sean Hannity Discussion |
| | Many experts on China say that the increased pressure from the United States may make it harder for the Chinese authorities to take action, and in particular for those who favour a shift in the currency regime to win the argument in Beijing. | | | The US Treasury has told the Chinese authorities that they must revalue their currency by at least 10 per cent against the dollar to prevent protectionist legislation in the US congress. | | | Alan Greenspan said on Friday in response to a question at the Economic Club of New York that a notional 20 per revaluation of the renminbi would have little impact on the US trade balance. |
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http://www.hannity.com/forum/showthread.php?t=8504
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| | Goals tagged "renminbi" on 43 Things |
| | FT.com / Comment and analysis / Comment - US has little to teach China about steady economy | | | US has little to teach China about steady economy [FT.com / Comment and analysis / Comment]] | | | No goals have been tagged with renminbi yet. |
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http://www.43things.com/tag/renminbi
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| | Northwest China medical treatment revenues in renminbi, number of hospitals, number of physicians, number of hospital ... |
| | Select a currency for use throughout the site | | | China number of specialty obesity treatment hospitals and obesity treatment market size by revenues in US dollars and renminbi for 1991 forecast to 2011 in five-year increments, with total number of hospitals and total medical treatment revenues | | | China number of specialty obesity treatment physicians and obesity treatment market size by revenues in US dollars and renminbi for 1991 forecast to 2011 in five-year increments, with total number of doctors and total medical treatment revenues |
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http://www.researchandmarkets.com/reportinfo.asp?report_id=256083
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| | RGE - Martin Wolf explains the fall in the renminbi-dollar |
| | Yes--for foreign central banks that find that their dollar interest receipts on their reserve portfolios no longer cover the renminbi payments they owe on the debt they issued to buy their reserves. | | | Yes--for foreign producers who find U.S. demand for their exports dropping like a stone. | | | Are there any negative consequences to that fall in the dollar? |
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http://www.rgemonitor.com/blog/setser/91287
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| | macroblog: Renminbi Revaluation: How Much Effect? |
| | But unlike a standard forward contract, delivery on an NDF is made not in renminbi, but in an equivalent amount of a convertible currency, such as U.S. dollars. | | | Recently, a market in nondeliverable forwards (NDFs) has arisen to provide cover for companies trading in renminbi. | | | An NDF contract sets an exchange rate for the future purchase or sale of renminbi. |
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http://macroblog.typepad.com/macroblog/2005/06/renminbi_revalu.html
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| | Political Economy of Renminbi Revaluation, by Dr. Ding Dou |
| | Since August 1994, China has maintained a steady nominal peg of its renminbi (RMB) currency against the U.S. dollar, although it claims officially that its currency exchange rate is a managed and floating one on the supply and demand of currency market. | | | The U.S.A.'s Politics of Pressure for Renminbi Revaluation | | | Political Economy of Renminbi Revaluation, by Dr. Ding Dou |
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http://www.larouchepub.com/other/2005/site_packages/june28-29_berlin/3229dr_ding_dou.html
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| | Renminbi Old News |
| | Renminbi will return to the studio at the end of December to record a follow-up to their first EP. | | | As you can see, the Renminbi website has been totally redesigned. | | | Also look for a Renminbi ad in the latest issue of Skratch (January '04). |
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http://www.renminbinyc.com/old_news.htm
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| | Renminbi exchange rates |
| | Since then, the renminbi has appreciated, then stabilised, as the current account has moved into comfortable surplus and FDI inflows have settled at a high level. | | | Before the 1980s, the exchange rate of the renminbi was artificially fixed at just under 2.5 to the dollar. | | | This rate did not reflect purchasing power parities, but as foreign trade played such a small part in China's economy that didn't matter much. |
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http://www.chinability.com/Rmb.htm
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| | New Economist: Is the Renminbi really undervalued? |
| | The Renminbi is evaluated using relative purchasing power parity (PPP), absolute PPP, and Balassa-Samuelson criteria. | | | New economic research, data, events and analysis from a London-based macroeconomist | | | Rather, Why the Renminbi Might be Overvalued (But Probably Isn’t) (PDF) by Yin-Wong Cheung, Menzie D. Chinn and Eiji Fujii discuss the Renminbi from the viewpoint of currency misalignment theory: |
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http://neweconomist.blogs.com/new_economist/2005/09/is_the_renminbi.html
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| | Chinese Yuan (Renminbi) Derivatives Products specs at MSN Shopping |
| | Since late 2002 there have been many disputes and discussions around the world on whether or not the Chinese yuan (CNY), or renminbi (RMB), should be revalued. | | | Based on various arguments and discussions, the CNY has been expected to be revalued worldwide, as evidenced by the significant premiums for the CNY non-deliverable forwards in the offshore marketplace. | | | Part III reviews what foreign exchange products were involved both before and during the Asian financial crisis, because many of them were used to speculate or hedge against … |
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http://shopping.msn.com/specs/shp?itemId=1770940
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| | Business Asia: Remember the Renminbi |
| | Over the next year to two years there should be a broad number of currencies moving upward against the US dollar, The move by the Renminbi and the Yen will be similar, European countries will go up by less and Australia somewhere in between. | | | We think the Euro is 6.1 percent too low against the US dollar. |
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http://www.findarticles.com/p/articles/mi_m0BJT/is_2_13/ai_n15792691
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| | ITworld.com - China deports convicted American DVD pirate |
| | Randolph Hobson Guthrie III, an American citizen who had been sentenced to serve a two-and-a-half-year jail term and fined 500,000 renminbi (US$61,652) for selling pirated DVDs, was handed over to the custody of U.S. law enforcement officials, MPS said in a statement. | | | Guthrie's accomplices were each sentenced to up to 15 months and fined between 10,000 renminbi and 30,000 renminbi. | | | During their trial, the Shanghai No. 2 Intermediate People's Court determined that Guthrie and his accomplices had sold 133,000 pirated DVDs worth around 3.3 million renminbi to customers in more than 20 countries, including the U.S., the U.K., Canada and Australia. |
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http://www.itworld.com/Man/2683/050930chinadvd
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