Australia and China have been continuously trading with each other benefiting both of their economic needs. China is Australia’s largest importer of iron ore, copper, wool and wine. With this constant flow of trade of Australia’s resources, Australia has become one of the “world’s top economies”. However, these high levels of economic success for Australia is primarily only because of… Read more »
BEIJING, Oct. 25 (Xinhua) — China on Thursday urged the United States not to politicize the issue of currency exchange rates, according to the Ministry of Commerce (MOC). MOC spokesperson Gao Feng said at a press conference that it had become an international consensus that China did not manipulate the exchange rate of its currency, the renminbi (RMB), stressing that… Read more »
MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) and the Bank of China are set to formally ratify next week the establishment of a system that will allow local banks to directly exchange renminbi (RMB) to peso and vice-versa at better rates. Bank of China and BSP are scheduled to sign on Oct.30 the memorandum of understanding (MOU) for… Read more »
MANILA, Philippines — Trade with China will continue despite the Philippines’ stronger economic ties with the United States, the Department of Trade and Industry (DTI) said, as President Duterte expressed reservation over a condition that he said is being imposed by Washington on its trade partners. Trade Secretary Ramon Lopez and US Trade Representative Robert Lightizer recently announced that the… Read more »
Australia has an “enviable economic record” but its “lucky streak” could come to an end due to domestic infighting and an over-reliance on Chinese trade, according to a report published today. Key points: China is Australia’s largest buyer of iron ore, copper, wool and wine If China chooses to boycott Australia it would shake Australian livelihoods Political infighting and a… Read more »
