Yuan Poised to Become Reserve Currency, Goldman’s O’Neill Says – General

Regardless of whether it is deemed good or bad, trade/currency conflict with China is a fact of life--but it doesn't fit standard models of "trade wars." To avoid unnecessary inflammation in the body politic, let's refer to this bundle of inter-related conflicts as "trade-currency issues" rather than a "trade war," which is a heavily loaded phrase that adds plenty of emotion and precious little un

Political campaigns bring out the worst in members of Congress. I can see the influence of the campaign season and a weak economy in the House of Representatives’ recent vote to “punish” China for what it sees as an undervalued currency. But business-as-usual campaign politics in the US are easily and constantly misinterpreted outside of our borders, and end up harming all parties.

Please, let the water torture stop.

Until Beijing revalues its currency, the drip, drip of monetary tightenings will continue. As with Tuesday's nervous market response to talk that Chinese banks had halted lending for the rest of January, market participants will read every measure as a sign of more to come.

China's gold reserves have nearly doubled over the past five years, according to the country's foreign exchange administration.