The world's two leading economic powers have announced they signed trade agreements valued at $45 billion during meetings in Washington. Despite lingering tensions, China and the US said the agreements would lead to a new era in cooperation.
The recent G20 meeting in Seoul was generally criticized as not being successful in resolving currency issues and worldwide economic imbalances. Did anything positive come out of it? Oliver Griffith, Head of communications of the IFC tells us more about "the Seoul consensus".
UK Prime Minister David Cameron has sealed several trade deals with China during his visit to the country, including a $1.2 billion contract for Rolls-Royce engines. But pressure is mounting on the British premier to raise the issue of human rights.
China's trade surplus fell to 16.88 billion dollars in September, its lowest level in five months. Strong imports explain the slowdown of the trade surplus as international pressure to let the yuan appreciate keeps growing.
China angrily slammed a new US bill Thursday that targets the Yuan due to the Washington’s belief that authorities in China are artificially undervaluing their currency to promote exports. Beijing warned that the US action could hurt trade ties.
With the largest foreign exchange reserve in the world, China's Premier Wen Jiabao promised Sunday that his country would continue to support the European economy and increase bilateral trade relations.