China's foreign trade surges 750 times in 55 years

BEIJING, Dec. 24 (Xinhuanet) -- Chinese foreign trade has increased 750 times since the People's Republic of China was founded 55 years ago, serving as a major engine for the growth of world trade, a Chinese trade official said here Friday.

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Yuan-derful

The chief Asian economist at UBS authored an extremely insightful article to gauge the effects of Chinese currency policy on the global economy. His conclusion?

"It's surprisingly difficult to argue that the Chinese renminbi exchange rate -- or the exchange regime -- has had any substantial impact on the way the rest of the world works. Whether we look at jobs, trading patterns or global currency markets, China still shows up as a relatively small economy, and certainly not one that is 'driving the show,' now or in the near future. And whether the peg stays or goes is a sublimely unimportant issue in the large scheme of things."

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Limits on Chinese Imports Harm Low-Income Americans

Limits on Chinese Imports Harm Low-Income Americans
by Sheldon Richman, December 22, 2004
from The Future of Freedom Foundation

President Bush has a nice little Christmas present for every family struggling to make ends meet: he announced the other day that he will make clothing more expensive in the coming year by imposing limits on cheap imports from China. This little favor to American textile and apparel interests is a slap in the face to everyone of modest (and not-so-modest) means. It is also a blow to clothing retailers who tried futilely to block the president’s move.


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China Grows in Superpower Status

The Tapei Times published a new article to claim thatChina is growing in superpower status.