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The renminbi (RMB, also known as Chinese yuan; ISO code: CNY) is the official currency of the People's Republic of China. [1] Although it is not a freely convertible currency , and has an official exchange rate , the CNY plays an important role in the world economy and international trade .
An undervalued currency causes serious problems and raises international criticism. Prominent economists including World Trade Organization (WTO) Director-General Pascal Lamy, [13] U.S. Federal Reserve Chairman Ben Bernanke, [14] Nobel Laureate Paul Krugman, [15] Director of the Peterson Institute for International Economics Fred Bergsten, [16] and Cornell University Professor Eswar Prasad [17 ...
By excluding all Chinese laborers from entering the country, the law severely curtailed the number of immigrants of Chinese descent allowed into the United States for 10 years. [52] The law was renewed in 1892 and 1902. During that period, Chinese migrants illegally entered the United States through the loosely-guarded U.S.–Canadian border. [53]
In October, the Asian Development Bank (ADB) raised a ¥1.2bn 10-year bond, and became the first supranational agency which issued dim sum bonds and also the first issuer listed in the HKSE. The dim sum bond market grew 2.3 times from 2010 (¥35.8bn) to 2013 (¥116.6bn), with an outstanding amount at the end of 2013 of RMF 310bn. [2]
The yuan has also enjoyed a growing share of global customer-initiated and institutional Swift payments over the past few years. But the U.S dollar has also seen growth over the same period ...
The U.S. dollar surged more than 1% to a four-and-a-half-year high against its Canadian counterpart and more than 2% against the Mexican peso. And the greenback also rose to its highest since July ...
Immigration to the People's Republic of China is the international movement of non-Chinese nationals in order to reside permanently in the country.. In the late 1970s, roughly 300,000 ethnic Chinese immigrated from Vietnam to China.
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