Don't believe the hype over the Yuan
Article Abstract:
International and domestic investors in China must not be hesitant to venture in the country's financial markets since the yuan currency has been performing very well contrary to popular reports. Statistics issued by federal officials concerning trade surplus are not credible since they refute the fact that China had been able to balance international trade during the first half of 1998. Inaccurate figures were publicized in order to conceal corrupt administrative activities involving VAT rebates and imports.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Dollar borrowings face battle if yuan is devalued
Article Abstract:
Economists have grown worried about the extent of US-dollar debt in Chinese companies amid growing fears about China's economic soundness. The uncertainty is amplified by fears that the Chinese government may devalue its currency. The Chinese government reported that the country posted $130 bil in foreign debt at the end of 1997. Only 14% of total foreign borrowings, or $18 bil, is short-term debt.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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