I want to buy something at this price 30 days 60 days 90 days 30 days 60 days 90 days. There are many different variations of the idea, including a possibility that it would be administered by a global central bank that would define its own monetary standard or that it would be on the gold standard. The proposals would also imply that surplus nations such as China and Germany should stimulate their economies further in order to cut their own imbalances, rather than, as in the present system, deficit nations such as the UK and US having to take the main burden of readjustment. Stability and Growth Pact. The world's 10 most expensive cities

Heather StewartObserver economics editor. Sunday 16 August Last modified on Thursday 20 August So what difference will it make to the rest of the world? China has been trying to engineer a shift from export-led growth to an expansion based on consumer spending — while simultaneously trying to deflate a property bubble. If its economy really is much weaker than Beijing has let on, it would be alarming for any company hoping to export to China — something firms in Britain have been encouraged to do in recent years, to lessen reliance on the stodgy European economies.

China was the sixth-largest destination for British exports last year. China will remain a vast market; but it may not be quite such a one-way bet as some analysts have suggested. In coming months, weak Chinese demand could force down the cost of many commodities, from oil to iron ore. Central bankers in the US and the UK have been issuing warnings trrade months that, with growth strengthening, they are preparing to start pushing up interest rates — augjst the emergency cuts made in akgust global credit crunch.

However, if the cheaper yuan cuts the price traade imports, this will undermine inflation, which is already at zero in the UK; and could delay a rate rise. Brief periods of falling prices — particularly if concentrated among one or two commodities — can be good news; but economists fret about periods of persistently Wodld prices, which can undermine spending and investment and feed World trade currency august to wages, as consumers Wolrd businesses delay spending, expecting goods to be even cheaper in future.

And if a fresh downturn does come, central bankers have little ammunition left to tackle it, since interest rates currench the US, the UK and Europe are already on the floor. So weakness in the Chinese economy is bad news for Australia. And economies where consumer demand and confidence is already weak tend to be hit harder by the reduced spending that deflation can bring. The International Monetary Fund described the move as welcome. But the devaluation was nevertheless greeted angrily in Washington.

Rather than changing their ways, the Chinese government seems to be doubling down. Our discussion threads are free to read but the creation of new comments is restricted to paying supporters only. The Guardian - Back to home. What term do you want to search?. View more sharing options. It could be serious. A less costly World trade currency august. China World trade currency august been trying to shift from being a vast factory producing cut-price consumer goods crurency the rest of the world.

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After China unexpectedly devalued its currency last week, one City economist shrugged despairingly and said: “It’s August.” While it’s meant to be a time for. World Trade Organisation report shows that worlds energy, Towards a world currency: world monetary standard and world monetary institution; World currency. Get free live currency rates, tools, and analysis using the most accurate data. Other services include XE Money Transfer, XE Datafeed, and more!.