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The Chinese Yuan

1. [verwijderd] 22 augustus 2007 03:22

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   Rising Chinese currency will lead to US inflation
   
   Especially under the present circumstances of nearly zero structural unemployment (below 6%) and near-full-capacity utilization in the US, a rise in import prices caused by a fall of the dollar would sharply increase US inflation and thus interest rates, severely affecting the equity and housing markets and potentially triggering a recession.
   
   Inflation is caused by excess liquidity released by the US central bank, not by the Chinese currency. The same counterproductive effect would come from the Graham-Schumer threat to levy 27.5% tariffs on goods imported in from China it the yuan is not revalued upward by 25%.
   
   NBER declares yuan not undervalued
   
   National Bureau of Economic Research (NBER) Working Paper No 12850 issued last month reported that, relying on conventional statistical methods of inference and a framework built around the relationship between relative price and relative output levels, once sampling uncertainty and serial correlation are accounted for, there is little statistical evidence that the yuan is undervalued.
   
   The NBER is a prestigious and highly respected private, non-profit, non-partisan research organization where Simon Kuznets' pioneering work on national income accounting, Wesley Mitchell's influential study of the business cycle, and Milton Friedman's research on the demand for money and the determinants of consumer spending were among the early studies done. Sixteen of the 31 US Nobel Prize winners in Economics and six of the past chairmen of the President's Council of Economic Advisers have been researchers at the NBER. The more than 600 professors of economics and business now teaching at universities around the US who are NBER researchers are the leading scholars in their fields.
   The most effective way to reduce the US trade deficit is to reduce US demand by curbing excess dollar liquidity, not by pushing down the dollar. Notwithstanding Bergsten's assertion that "the global imbalances probably represent the single largest current threat to the continued growth and stability of the US and world economies", the real threat is a collapse of the dollar debt bubble, not a selloff of the dollar or dollar assets by foreigners.
   
   www.globalresearch.ca/index.php?conte...
2. [verwijderd] 2 september 2007 15:17

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   Yuan alone cannot rebalance economy-China c.banker
   
   BEIJING, Sept 1 (Reuters) -
   
   China will adopt a mix of measures aimed mainly at boosting domestic consumption to help rebalance its blistering economy, rather than letting the yuan rise sharply, a senior central banker said on Saturday.
   China sees an urgent need to make policy adjustments as it faces escalating trade frictions with the United States and other trade partners in response to its ballooning trade surplus, said Yi Gang, assistant governor of the People's Bank of China.
   
   "Our overall adjustment strategy is to adopt a mix of tools, rather than solely depending on foreign exchange rate changes, to rebalance the economy, which is our conclusion," Yi told a financial forum.
   
   He reiterated the central bank's long-standing position that it will keep the yuan basically stable but gradually allow its exchange rate regime to be more market-driven.
   
   The tools at Beijing's disposal included steps to strengthen domestic demand, further open the country's market, increase imports, encourage outbound investment and promote urbanisation, the official said.
   
   Adjustments to the yuan's exchange rate and steps to increase production costs so as to blunt Chinese products' edge in global markets will also facilitate the rebalancing of growth, Yi said.
   
   
   
   China revalued the yuan by 2.1 percent in July 2005 and replaced its hard dollar peg with a float within managed bands.
   
   The currency has now appreciated another 7.3 percent -- but that is still not enough to satisfy critics who say Beijing keeps it artificially low to give its exporters an unfair advantage.
   
   "Judging by the purchasing power parity of currencies, it is true that most Asian nations' currencies are somewhat undervalued," Yi said.
   
   But he noted that China was not only steadily letting the yuan appreciate, but was also adjusting the prices for manufacturing inputs.
   
   Yi conceded that letting the yuan strengthen sharply would indeed work more quickly than price adjustments to help upgrade industry, promote innovation and boost imports.
   
   "But there are concerns that a sharp yuan rise will pose a negative impact on exporters and employment," he added.
   
   Steps taken to date to adjust prices for some inputs and to curb inefficient and polluting factories would gradually show positive results, Yi said.
   
   The government will continue to raise the bar for companies in the areas of environmental protection, pollution and treatment of workers, Yi added.
   
   On the current economic situation, the central banker said that China faced many challenges including racing growth, increasing inflationary pressures, a surging trade surplus and booming capital spending and credit expansion.
   
   But he said that he was confident authorities would be able to make growth more balanced by adopting the mix of tools including boosting domestic consumption, steadily adjusting the yuan's exchange rate and raising production standards and costs.
   
   
   
3. [verwijderd] 11 september 2007 14:14

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   quote:

   The Artist schreef:

   
   
   China revalued the yuan by 2.1 percent in July 2005 and replaced its hard dollar peg with a float within managed bands.
   

   www.washingtonpost.com/wp-dyn/content...
   China's Trade Surplus Jumps 33 Percent
   
   The government has let the yuan rise by more than 9 percent against the U.S. dollar since July 2005, which is expected to help narrow the trade gap by making China's exports more expensive abroad and American goods more attractive to Chinese consumers. But critics say the yuan is still undervalued and they want faster action.
4. [verwijderd] 28 september 2007 04:00

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   China should stabilize RMB: Nobel Laureate
   
   Updated: 2007-09-20 10:24
   
   China should stabilize the exchange rate of renminbi (RMB) against the US dollar to study the effect of its accumulated appreciation of close to 10 percent over the past two years, 1999 Nobel Laureate in economic sciences Robert Mundell said in Hong Kong on Wednesday.
   
   Speaking at a lecture at the Chinese University of Hong Kong, Mundell said "it is time to pause the appreciation of RMB and let it stay at a stable level."
   
   China abandoned its policy of pegging the renminbi to the US dollar in 2005 and the currency's exchange rate against the dollar has rose close to ten percent since then.
   
   Refuting an argument that says the RMB is undervalued, thereby leading to the US trade deficit, the father of the euro cited figures to note that China's trade surplus against the United States only contributed a small portion of the US deficit.
   
   Number megatrends in the world economy, including the unprecedented global expansion, globalization, the IT revolution, the success of the euro, the rise of China, among others, have led to "global imbalances, reflected in a huge current account deficit of the US," Mundell said.
   
   The dollar deficit is "endemic in the dollar system" and cannot be explained by the fixed rate of the RMB or the Japanese yen, Mundell said, adding that the dollar deficit has persisted since the end of the dollar shortage in the 1950s.
   
   The 2005 Nobel Laureate in economic sciences Thomas Schelling, along side Mundell at the Chinese University of Hong Kong, lectured on nuclear nonproliferation, and Edmund Phelps, winner of the 2006 Nobel Prize in economic sciences, lectured on the importance of finance professionals in the development of modern economies.
   
   
5. [verwijderd] 29 oktober 2007 22:41

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   Yuan hits new high on weakened greenback
   
   By Dong Zhixin (chinadaily.com.cn)
   Updated: 2007-10-29 15:48
   
   China's currency reached a new record high against the US dollar on Monday as the greenback continued to weaken on speculation of another interest rate cut by the Federal Reserve.
   
   Before trading started on Monday, the People's Bank of China (PBOC) set the yuan at 7.4718 relative to the dollar. The new midpoint marked the fifth consecutive session of gains. The yuan can move 0.5 percent up or down the midpoint each day.
   
   Monday's gain was largely due to the weakening dollar, which fell as low as $1.4426 to the euro, the weakest since the introduction of the currency in 1999.
   
   The American currency slumped due to expectations the Fed will reduce the federal funds rate, an overnight lending rate between banks, by at least a quarter-percentage point on October 31 from the current 4.75 percent, prompting investors to seek higher-yielding assets overseas.
   
   In contrast, the PBOC is widely expected to raise the interest rate for the sixth time this year to prevent the economy from overheating and curb inflation.
   
   The world's fourth largest economy grew 11.5 percent in the third quarter and the consumer price index jumped 6.2 percent in September for a 4.1 percent rise in the first three quarters, far above the 3 percent official target for this year.
   
   Widening trade surplus is also exerting upward pressure on the yuan.
   
   In the first nine months, China's trade surplus stood at $185.7 billion, official figures showed. That amount might reach $250 billion by the end of this year, compared with $77.5 billion in 2006, the Ministry of Commerce said in a report on Saturday.
   
   The yuan has appreciated more than 10 percent against the greenback since the country ended its peg to the US dollar in July 2005.
   
   
6. [verwijderd] 28 november 2007 18:40

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   China weigert snelle opwaardering yuan
   
   Ondanks zware Europese druk weigert China over te gaan tot een snelle opwaardering van zijn munt, de yuan. Dat is woensdag gebleken na afloop van gesprekken tussen de Chinese premier Wen Jiabao en een hoge Europese delegatie in Peking. Beide partijen gaan wel werkgroepen in het leven roepen die zich moeten buigen over de wisselkoersen en de handelsproblemen.
   
   (belga) - Wen Jiabao herhaalde woensdag op de afsluitende persconferentie van de Europees-Chinese top dat zijn land de koers van de yuan slechts 'stapsgewijs' vrijer wil laten bewegen. Van een snelle opwaardering kan dus geen sprake zijn. Peking stemde wel in met de oprichting van een werkgroep, waarin de Chinese en de Europese Centrale Bank de monetaire kwestie verder zullen bespreken.
   
   Volgens Europa is de Chinese munt 20 tot 25 procent ondergewaardeerd. De Europese delegatie voerde de voorbije dagen in Peking een waar offensief voor een opwaardering van de yuan. Niet alleen de voorzitter van de Europese Commissie José Manuel Barroso kaartte het probleem aan. Ook een hoge delegatie met voorzitter Jean-Claude Trichet van de Europese Centrale Bank en voorzitter Jean-Claude Juncker van de eurogroep vertoefden in de Chinese hoofdstad.
   
   De Europeanen wezen erop dat de Chinezen de koers van hun munt niet enkel mogen afstemmen op de dollar. Eurocommissaris voor Economische Zaken Joaquim Almunia stelde vast dat de yuan sinds 2005 versterkt is ten opzichte van de dollar, maar verzwakt ten opzichte van de euro. 'De eurozone is de belangrijkste commerciële partner van China, (...) waarom zou de yuan dan verder in waarde verminderen ten opzichte van de euro?', zo vroeg Juncker zich af.
   
   De sterkte van de euro ten opzichte van de yuan bemoeilijkt de Europese export naar China, maar Wen ontkende woensdag dat de koers van de Chinese munt 'de beslissende factor' achter het grote Europese handelstekort met China is. Volgens hem wordt de relatie tussen yuan en euro in eerste instantie bepaald door de koers van de euro ten opzichte van de dollar en ligt vooral de val van de Amerikaanse munt aan de basis van de sterke waardering voor de Europese eenheidsmunt.
   
   Dit jaar dreigt het handelsoverschot op te lopen tot 170 miljard euro. De Chinese premier beklemtoonde dat hij geen groot handelsoverschot met Europa wenst en toonde zich bereid de import van Europese producten te versoepelen. Beide partijen lanceren daarom een dialoog van hoog niveau over een betere toegang tot de markten en de bescherming van intellectuele eigendomsrechten. Eerder had Barroso aangeklaagd dat Europa nog steeds meer uitvoert naar Zwitserland dan naar China, onder meer als gevolg van schendingen van de eigendomsrechten, een gebrek aan standaardisering en obscure investeringsregels.
   
   De Europese Investeringsbank, tenslotte, verstrekte naar aanleiding van de top een lening van 500 miljoen euro aan Chinese banken voor projecten inzake klimaatverandering. Die lening zal volgens Barroso nieuwe mogelijkheden bieden voor het Europese bedrijfsleven in China.
   
   17:32 - 28/11/2007
   
7. [verwijderd] 28 november 2007 19:02

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   quote:

   The Artist schreef:

   China weigert snelle opwaardering yuan
   
   Ondanks zware Europese druk weigert China over te gaan tot een snelle opwaardering van zijn munt, de yuan.
   
   Dit jaar dreigt het handelsoverschot op te lopen tot 170 miljard euro.
   
   De Europese Investeringsbank, tenslotte, verstrekte naar aanleiding van de top een lening van 500 miljoen euro aan Chinese banken voor projecten inzake klimaatverandering. Die lening zal volgens Barroso nieuwe mogelijkheden bieden voor het Europese bedrijfsleven in China.
   
   

   Het blijft lachen met die Europese politici.
   
   gr.fes
8. [verwijderd] 28 november 2007 19:41

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   quote:

   fes schreef:

   [quote=The Artist]
   China weigert snelle opwaardering yuan
   
   Ondanks zware Europese druk weigert China over te gaan tot een snelle opwaardering van zijn munt, de yuan.
   
   Dit jaar dreigt het handelsoverschot op te lopen tot 170 miljard euro.
   
   De Europese Investeringsbank, tenslotte, verstrekte naar aanleiding van de top een lening van 500 miljoen euro aan Chinese banken voor projecten inzake klimaatverandering. Die lening zal volgens Barroso nieuwe mogelijkheden bieden voor het Europese bedrijfsleven in China.
   
   [/quote]
   
   Het blijft lachen met die Europese politici.
   
   gr.fes
   

   Howdy,
   
   En die Chinezen maar lachen: "Yuan in a (1.300) million"
   
   >--:-)-->
   
   p.s. 't Zal nu gauw afgelopen zijn met HangSeng, want ik kocht vandaag "LeNovo", really.
9. [verwijderd] 28 november 2007 19:48

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   quote:

   Amor Arrows schreef:

   p.s. 't Zal nu gauw afgelopen zijn met HangSeng, want ik kocht vandaag "LeNovo", really.
   

   3 keer meer betaalt als mij, dat is mooi.
10. [verwijderd] 28 november 2007 20:18

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    quote:

    The Artist schreef:

    [quote=Amor Arrows]
    p.s. 't Zal nu gauw afgelopen zijn met HangSeng, want ik kocht vandaag "LeNovo", really.
    [/quote]
    
    3 keer meer betaalt als mij, dat is mooi.
    

    Howdy, Thank you, Xie xie (Chinees)
    
11. [verwijderd] 28 november 2007 20:19

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    quote:

    Amor Arrows schreef:

    [quote=The Artist]
    [quote=Amor Arrows]
    p.s. 't Zal nu gauw afgelopen zijn met HangSeng, want ik kocht vandaag "LeNovo", really.
    [/quote]
    
    3 keer meer betaalt als mij, dat is mooi.
    [/quote]
    
    Howdy, Thank you, Xie xie (Chinees)
    
    

    je kan al beter Chinees dan ik Nederlands.
12. [verwijderd] 28 november 2007 20:32

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    Naast een Chinese snackbarhouder, wil ik u niet onthouden dat ik tevens een Chinese tandarts heb.
    Dit tot mijn grote tevredenheid. Ik mag zelfs zeggen: ik zie het als statussymbolen, zoals Rogers een Chinese nanny heeft voor zijn dochtertje.
    
    Nu was ik dus hedenochtend bij mijn Chinese tandarts. Zij had de grootste pret om te vertellen dat haar broer -ongetwijfeld ook tandarts- heel veel in de HS had gezet en dat het niet goed ging met de aandelen.
    
    Nu zou je denken: wat moet ik hiermee? Dat dacht ik ook maar toen de verdoving begon te werken dacht ik: er zijn heel wat vermogende Chinese tandartsen op deze wereld. Die zetten hun centjes dus niet op de spaarrekening of in de beroemde AEX maar het geld gaat terug naar Chinese aandelen. En ze lachen als het even wat minder gaat. Daar kunnen wij nog wat van leren.
    
    En ondanks smeekbeden van Trichet en Bernanke gaat de Yuan dus niet omlaag.
    
13. [verwijderd] 28 november 2007 20:42

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    quote:

    erwin1 schreef:

    En ondanks smeekbeden van Trichet en Bernanke gaat de Yuan dus niet omlaag,

    Howdy, Ik dacht dat de Yuan juist OMHOOG moest?
    
    >--:-)-->
    
    p.s. Lacht jouw tandarts als 'n boerin die kiespijn heeft als haar stocks zakken?
    
    
14. [verwijderd] 28 november 2007 21:25

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    leedvermaak is kennelijk internationaal. dus
15. [verwijderd] 31 december 2007 00:09

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    China Lets Currency Appreciate a Bit Faster
    
    Sunday December 30, 8:38 pm ET
    By KEITH BRADSHER
    
    HONG KONG — China’s currency rose steeply against the dollar this week, feeding speculation that Chinese authorities, yielding to international pressure and economic realities at home, were allowing their currency to appreciate more rapidly.
    
    
    The currency, known as the yuan or renminbi, rose 0.9 percent this week — faster than over any week since China stopped pegging it to the dollar on July 21, 2005. Thursday, the yuan rose 0.37 percent, the largest one-day increase since the peg ended. On Friday, it rose 0.18 percent, to close at 7.3041 to the dollar in Shanghai trading.
    
    Yao Jingyuan, the chief economist of the National Bureau of Statistics in China, said Chinese officials were trying to figure out their next currency move.
    
    “It is certain that the yuan will appreciate — the time frame and magnitude of the adjustment is difficult to confirm at the current time. We are busy studying this issue right now,” he said in a telephone interview. “What I can say is that it will be dependent on China’s overall economic environment and outlook.”
    
    Yu Yongding, the director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences and until last year a member of the monetary policy committee of China’s central bank, said that rising inflation at home was making it much easier for the Chinese government to accept a stronger yuan.
    
    Until recently, the government worried that allowing the currency to rise would let in more imports and stifle exports, leading to deflation. But China’s consumer price index was up 6.9 percent in November compared with a year earlier, led by an 18.2 percent rise in food prices.
    
    A sustained appreciation of the yuan could ease frictions somewhat with the United States, the European Union and Japan, all of which have criticized China for not allowing faster appreciation.
    
    To be sure, trade tensions could still increase if economies around the globe slow next year. And China has periodically allowed bursts of yuan appreciation in the past — although not on the scale of this week’s move — only to pull the yuan down slightly or hold it nearly level for weeks afterward.
    
    But the comments by Mr. Yao and Mr. Yu are the latest in a series of hints from current and former officials that suggest the country’s leadership is beginning to see some advantages to a stronger currency.
    
    On Thursday, the newspaper China Securities Journal reported that Ba Shusong, a deputy director at the government’s elite State Council Development and Research Center, had called for yuan appreciation to slow the rise of food and fuel prices. China imports half of its oil, but relatively little of its food. And on Monday, a newspaper in Shenzhen reported that central bank officials had suggested to the State Council, China’s cabinet, a one-time increase in the yuan’s value.
    
    The central bank has long favored a stronger yuan, but the commerce ministry and interest groups have blocked it. Mr. Yu, like most of his Western counterparts, said the government is less likely to opt for a one-time revaluation and more likely to choose a faster pace of daily appreciation.
    
    The danger of allowing a steady rise in the yuan’s value, instead of a quick jump, is that it may encourage speculators to pour more money into China in an effort to ride the increasing value. The country’s foreign exchange reserves are already rising by roughly $1 billion a day, mainly because of a trade surplus that has continued to grow despite a 7 percent increase in the yuan against the dollar this year.
    
    By comparison, the yuan rose just 3.3 percent against the dollar in 2006.
    
    Mr. Yu said that China has become less attractive to speculators. He pointed to the ranking of China’s stock markets as among the world’s costliest in terms of price-to-earnings ratios; limits on foreign investments in already high-priced real estate markets; and restrictions on foreign money entering domestic money markets.
    
    Hong Liang, a Goldman Sachs economist based in Hong Kong, expects faster appreciation next year but not a one-time revaluation.
    
    Bloomberg News found that the median estimate of 28 analysts was for the yuan to reach 6.88 to the dollar next year; that would mean a further increase of 6.2 percent from the close Friday.
    
    Stock markets fell across China Friday, partly in reaction to Thursday’s stock market drop on Wall Street but also on the prospect that a stronger Chinese currency could narrow profit margins for many Chinese exporters. The Shanghai A share index declined 0.89 percent, the Shenzhen A share index fell 0.45 percent and the Hang Seng Index in Hong Kong plunged 1.7 percent.
    
    Opposition to faster yuan appreciation has come from three directions in China, according to Chinese political and currency experts.
    
    The most vocal bloc consists of exporters and their allies in the commerce ministry, who worry that an ever more valuable yuan will result in narrower profit margins. Chinese factories also face higher costs after Jan. 1 as a new labor law takes effect that could make it much harder to dismiss less productive employees — although it is unclear how strictly the law will be enforced.
    
    But after years of having their prices beaten down by Wal-Mart and other big corporate buyers, Chinese factories have discovered this year that they can push through price increases.
    
    The Bureau of Labor Statistics price index for American imports from China fell steadily from when the American government began calculating the series at the end of 2003 until February of this year. But it jumped 2.4 percent from February through November as businesses in China experienced such strong demand that they were able to raise prices and still keep assembly lines full.
    
    Opposition to faster appreciation also has come from political leaders worried about urban unemployment and the potential for rioting if exporters lose sales and lay off workers — or even if exporters simply hire fewer workers each year at a time when nearly 10 million migrant workers are pouring into China’s cities each year from rural areas.
    
    But this worry seems to be abating as exporters have shown their ability to thrive even with currency appreciation, with Chinese exports 22.8 percent higher last month than a year earlier.
    
    Until very recently, the third obstacle to a much stronger yuan has been the danger that it would lead to cheap food imports that would drive down the prices realized by China’s farmers. This has been particularly important because many officials, from President Hu Jintao on down, want to narrow the gap between rural and urban incomes.
    
    Higher food prices have benefited many peasant farmers this year, increasing their incomes as they sell their crops for more money. Not all peasants have gained, however, as part of the inflation has occurred because of an epidemic among Chinese pigs as well as drought in areas of southern China.
    
    
16. [verwijderd] 23 februari 2008 20:24

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    China planning to use yuan as policy tool
    
    
    BEIJING: China will step up use of the yuan's exchange rate to help bring better balance to China's international payments and the domestic economy, the People's Bank of China said yesterday.
    
    The explicit commitment follows a marked acceleration in the pace of the yuan's rise in recent months as the central bank battles to keep a lid on rising inflation.
    
    "We will go a step further in allowing the exchange rate to play a role in adjusting the balance of international payments and promoting balanced economic growth," the PBOC said in its monetary policy report for the fourth quarter.
    
    The central bank, which keeps the yuan under tight control, allowed the currency to reach 7.1413 per dollar on Thursday, the highest level since it scrapped a dollar peg in July 2005 and let the yuan float in managed bands.
    
    The yuan has now gained 13.6 per cent against the dollar, including an initial 2.1pc revaluation in July 2005.
    
    Most exporters had improved their competitiveness and adapted better than expected to the stronger yuan by increasing efficiency, cutting costs and upgrading their products, the PBOC said.
    
    It gave the example of textile firms, some 55pc of which had raised their prices in the first half of last year.
    
    Some had moved production to cheaper cities inland, and some had started to sell more goods inside China or had expanded into new markets in South East Asia, Australasia and Africa.
    
    The faster rise in the yuan has been welcomed by economists, who say it will trim China's trade surplus and so cap at the source the torrent of liquidity pouring into the economy that has helped propel inflation to an 11-year high of 7.1pc.
    
    "Inflationary pressures may ratchet up further for some time to come," the report warned.
    
    China's GDP price deflator last year rose 5.6pc, two percentage points more than in 2006, the report disclosed. Given that real GDP grew 11.4pc, this put nominal GDP growth last year at 17.0pc.
    
    Global price pressures were feeding through into domestic prices, even though the stronger yuan was cushioning the impact, the central bank said. Indeed, it said high inflation was becoming a global phenomenon.
    
    Rising production and labour costs were further fuelling Chinese inflation, the report said.
    
    With inflation set to remain quite high in the first half of the year, household consumption might be dampened, the PBOC said.
    
    International uncertainties, stemming in part from the fallout of the US subprime crisis, would also act as a drag on growth. The result would be a modest slowdown this year for an economy that has expanded at double-digit rates for the past five years, the report said.
    
    
    
    
17. [verwijderd] 24 februari 2008 01:40

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    Is het nu niet extra interessant om chinese aandelen die genoteerd staan aan de nasdaq te kopen als de yuan zoals verwacht verder gaat stijgen? Vooral als het aandelen zijn van bedrijven die niks met export hebben te doen?
18. [verwijderd] 24 februari 2008 05:28

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    quote:

    neilgaiman schreef:

    ..............Vooral als het aandelen zijn van bedrijven die niks met export hebben te doen.........?
    

    Howdy,
    
    Vooral dit laatste is erg voornaam.
    
    Lees b.v het volgende advies over Suntech Power:
    
    Many Chinese companies actually benefit from a rising yuan as their assets are denominated in a strong currency. However, the rising value of the Chinese yuan is actually working against Suntech. The company said the fall in the U.S. dollar compared to the yuan led to losses of $6.3 million, versus foreign exchange losses of just $1.2 million in the third quarter of 2007. Given that the Chinese yuan will likely continue to appreciate over the next couple of years, it will continue to hurt Suntech's earnings.
    
    The second problem is that Suntech has been struggling with high prices for polysilicon, a key material used in solar cell production. The company had greater-than-expected exposure to the spot market of polysilion this year. High silicon prices could continue to hurt Suntech's profits in coming quarters, as the majority of its long-term silicon contracts will come in 2009.
    
    Given that there are a number of forces working against Suntech right now, a SELL STP advice.
    
    Houdoe
    
    >--:-)-->
    
    
19. wu chang 24 februari 2008 07:28

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    quote:

    Amor Arrows schreef:

    [quote=neilgaiman]
    ..............Vooral als het aandelen zijn van bedrijven die niks met export hebben te doen.........?
    [/quote]
    
    Howdy,
    
    Vooral dit laatste is erg voornaam.
    
    Lees b.v het volgende advies over Suntech Power:
    
    Many Chinese companies actually benefit from a rising yuan as their assets are denominated in a strong currency. However, the rising value of the Chinese yuan is actually working against Suntech. The company said the fall in the U.S. dollar compared to the yuan led to losses of $6.3 million, versus foreign exchange losses of just $1.2 million in the third quarter of 2007. Given that the Chinese yuan will likely continue to appreciate over the next couple of years, it will continue to hurt Suntech's earnings.
    
    The second problem is that Suntech has been struggling with high prices for polysilicon, a key material used in solar cell production. The company had greater-than-expected exposure to the spot market of polysilion this year. High silicon prices could continue to hurt Suntech's profits in coming quarters, as the majority of its long-term silicon contracts will come in 2009.
    
    Given that there are a number of forces working against Suntech right now, a SELL STP advice.
    
    Houdoe
    
    >--:-)-->
    
    Dan maar meteen een Tip !
    
    Truly International holding ltd
    Hang Seng nr 732.
    
    lcd maker voor mobiliele telefoons op de Chinese markt.
    
    

20. [verwijderd] 24 februari 2008 17:07

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    Mijn tip horen jullie als ik daadwerkelijk tot aanschaf ben overgegaan ;)