By Zhao Zhongxiu & Sun Jingying
China's sustained trade surplus has produced concern in many quarters recently and has triggered calls from some countries, notably the [United States], pressing China to revalue its currency and to rein in policies supportive of its domestic industries. However, analysis shows that China's trade surplus, which has kept increasing for about 20 years, is the result of China's reform and opening-up drive and of introducing preferential policies to attract investment: It has little to do with the RMB exchange rate.
Minnesota exports, including agricultural, mining and manufactured products, grew almost 12 percent to US$5.3 billion in the second quarter of 2011 – a record quarterly high. The national export growth rate was 18 percent. Vermont was the only state with decreased exports during this period.
As special representatives of President Barack Obama and President Hu Jintao, U.S. Treasury Secretary Timothy Geithner and Chinese Vice Premier Wang Qishan concluded the meeting of the Economic Track in the third U.S.-China Strategic & Economic Dialogue in Washington today. They were joined by a high-level delegation of Cabinet members, agency heads, and senior officials from both countries.
SAN FRANCISCO —Wells Fargo & Company (NYSE:WFC) said [Jun. 28] that its board of directors has elected Elaine L. Chao, the former U. S. Secretary of Labor and the first Asian Pacific American woman to be appointed to a presidential cabinet, to the company’s board of directors, effective July 1, 2011.
By Sri Mulyani Indrawati, Managing Director, The World Bank
Honorable Ministers, Ladies and Gentlemen,
Thank you for inviting me to speak here today, to learn and to contribute to this prestigious Forum that has become a place for open and meaningful discussions between China and her friends all over the world. It is a privilege to be here.