IMF chief Dominique Strauss-Kahn said the currencies of China and other emerging economies such as Brazil should play a greater role in global finance, as part of a bid to promote monetary stability
China said on Tuesday consumer prices rose 4.9% in January, a lower-than-expected figure. According to data released by the National Bureau of Statistics (NBS), the Consumer Price Index (CPI), the main gauge of inflation, was 0.3 percentage points higher than in December but still lower than November’s 28-month-high of 5.1%.
In spite of United States inciting Brazil and India to criticise China's currency policy, Beijing need “not worry too much” because it can defuse the tension through talks, according to Chinese officials.
China's trade surplus fell to its lowest in nine months in January after imports surged, supporting the government's case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation.
A rail alternative to the Panama Canal built by China is being considered by Colombia in a move that would boost trade between Asia and South America. The 220 kilometers 'dry canal' would link Colombia’s Atlantic and Pacific coasts by rail, according to Juan Manuel Santos, the president of Colombia.
Chile’s Copper Commission (Cochilco) has predicted that China became the world’s second largest copper producer in 2010, overtaking the United States and Peru.
China is launching a body to review foreign attempts to buy local companies in a move that might add to strains over access to its markets.
United States, China and the European Union announced they would recognize south Sudan as the world’s newest nation. President Barack Obama went further and rewarded north Sudan for its cooperation by taking it off a terrorism blacklist.
China's central bank said Tuesday it will increase key lending and deposit rates by a quarter percentage point, effective Wednesday. This is the third People’s Bank of China rise since last October, a move aimed at combating stubbornly high inflation.
US Treasury Secretary Timothy Geithner reached out to Brazil by citing a shared concern - China - and endorsing Brazil's approach for dealing with global economic distortions.