China and Argentina signed a Tax Information Exchange Agreement (TIEA) in order to improve transparency in the two countries’ bilateral trade and investment.
Argentina’s most influential businessman warned about the “inflationary escalade” which, if not contained can lead to an unfavourable climate for investments. Paolo Rocca, Techint group CEO made the statements during an entrepreneurs’ forum where he called for “business responsibility”, “clear rules of the game”, “transparency” and questioned the landing of Chinese oil corporations in Argentina.
Economic data suggest that a 1 percentage point increase in China’s growth rate sustained over five years means an extra 0.4 percentage point of growth for the rest of the world, two experts at the International Monetary Fund said after studying figures for the past two decades.
A newly formed Chinese organization says it will award its own peace prize on Thursday, a day before the Nobel Peace Prize is awarded in Norway to imprisoned Chinese dissident Liu Xiaobo.
The U.S. dollar will be a safe investment for the next six to 12 months because global markets are focused on the Euro zone's troubles but the US fiscal health is worse than Europe's, an adviser to the Chinese central bank said on Wednesday.
China's central bank has raised the amount of money that lenders must keep in reserve, as it moves again to try to control the country's high inflation. The People's Bank of China said the reserve ratio would go up by a further 0.5 percentage points on 29 November.
China's government has said it will provide poorer households with subsidies in response to double-digit food price inflation. Inflation accelerated to 4.4% in October, with food prices rising 10.1%.
President Barack Obama tried to swing the G20 spotlight back onto global imbalances and take his own country's policies out of the glare as world leaders gathered in Seoul.
As world leaders prepare to debate international trade imbalances this week, China announced Wednesday that its trade surplus surged last month to a staggering 27.2 billion US dollars, a 61% increase over the 16.9 billion surplus in September.
China is resisting pressure to become a locomotive to pull the floundering US economy out of its hole, notably by stubbornly pegging its Yuan to the dollar, a senior IMF official said on Tuesday.