Top Economist: Yuan Will Not Devalue Sharply

As we all know, China is a big market for the global trading business and the rate of RMB(Renminbi) also become an influential topic for the whole world.

Recently, there are some comments that the yuan will depreciate greatly.

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Well, that's not true. What does the economist say?

PBOC (People's Bank of China) expert says sharp depreciation not on the cards

The yuan will not suffer a sharp depreciation in the coming one or two years and its internationalization remains an "irreversible trend", leading economist and former central bank advisor Li Daokui said on Tuesday.

Li said possible uncertainties caused in the United States by the Trump administration, in the worst case scenario, might cause large fluctuations in the US financial markets. These, he said, could push up the value of the dollar and cause a big-margin depreciation of the yuan against the greenback.

"But the possibility of that happening is slim," said Li Daokui, head of the Schwarzman College at Tsinghua University.

"The yuan, therefore, will not experience major fluctuations in the coming one or two years," Li added, unless there are significant political changes in the US, which would cause great repercussions in the nation's financial markets.

Li's views were echoed by those of Eswar Prasad, a professor of trade policy at Cornell University in the US.

"China is coming to a turning point of growth," Li said.

But the country's recent risk-control-oriented financial tightening, including stricter management of overseas investment by Chinese investors, has triggered market concerns that China may slow its financial opening-up and the pace of yuan internationalization may suffer setbacks.

Li shrugged off such concerns and said the effect of the recent financial policies on the yuan internationalization process was only temporary. Future cross-border trade and financial transactions and exchanges between China and the rest of the world meant that "yuan internationalization will be an irreversible trend", he said.

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Trump warms up the US-China tie in first 100 days of presidency

China-US relations is always a matter of great concern to the whole world. Recently, there is new partnerships between two countries.

President Donald Trump's nominee for ambassador to China promised on Tuesday to take a firm line with Beijing on issues from North Korea to trade disputes and human rights, and seemed poised for an easy confirmation by the U.S. Senate.

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"As Governor of Iowa, I saw first-hand the importance of a positive and healthy trade relationship between our two countries," Branstad said here at his confirmation hearing.

Terry Branstad, the nominee for US ambassador to China, said he hopes to use his unique relationships with Chinese President Xi Jinping and US President Donald Trump to positively influence US-China relations.

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"As Governor of Iowa, I saw first-hand the importance of a positive and healthy trade relationship between our two countries," Branstad said here at his confirmation hearing.

Branstad, who is serving his sixth term as Iowa governor and is the longest-serving governor in US history, described his relationship with Xi which goes back to 1985. Branstad was then serving his first term and met Xi, who was leading an agriculture delegation from Hebei province, Iowa’s sister province.

“A connection was made and a friendship was founded. To this day, President Xi still speaks fondly of Iowa and the hospitality he enjoyed there so many years ago,” said Branstad. When Xi visited the US in February of 2012 as China’s vice-president, he went to Iowa to visit the people who hosted him in 1985, people he referred to as “old friends”, including Branstad.

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As the governor of a U.S. state whose economy is mainly driven by agriculture industry, Branstad noted that almost one out of every two rows of Iowa soybeans is sent to China, as well as 33.5 million U.S. dollars in pork in 2016.

Senator Bob Corker, the panel's Republican chairman, blasted China's actions in the South China Sea, and "cyber theft of intellectual property." He warned against focusing on short-term goals at the expense of long-term US interests.

"There's no country in the world that we have so many issues with," Corker said.

Branstad took a hard line on the South China Sea, saying, "China cannot be allowed to use its artificial islands to coerce its neighbors or limit freedom of navigation or overflight."

Trump has taken an "America First" approach to trade. Branstad also stressed the importance of opening markets to agricultural goods, protecting intellectual property and addressing China's "unfair and illegal" sales of low-priced steel.

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100 days enough to prove Trump as a good president? See the proof.

Nearly “100 days” being a president in America,Trump complained to media at twitter.

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Whatever Trump do in America,we have to admit that he is the most active president at twitter.

Although 100 days are just a fraction of a president’s tenure, and no president has quite matched the achievements of Franklin D. Roosevelt, who set the standard by which all are now judged.But the 100 days rubric has proven irresistible, ever since Franklin Delano Roosevelt used it to frame the intense hustle of his administration in the face of global economic catastrophe. Roosevelt signed 15 major laws in his honeymoon period, scrapped the gold standard, set up multiple major jobs programs and saved the banking system. Congress doesn’t pass legislation any more – they just wave at the bills as they go by,Will Rogers, the cowboy cutup, is said to have joked at the time.

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Mileage may vary. Either he is an unapologetic populist whose efforts to drain the swamp of Washington have been met, all too predictably, by powerful resistance. Or he is a buffoonish con whose every gesture showcases his gross incompetence, plus he golfs too much, and he’s probably bad at that, too.

Highs and lows

Empirical analysis has found that presidents enjoy a “honeymoon hundred” with Congress, during which time legislation that a president backs is more likely to pass. If that’s true for Trump, he’s in trouble. His effort to broker a deal on healthcare reform turned out to be as ineffectual as it was ostentatious. His promise to pull off tax reform is equally in doubt. The one spending bill he has managed to sign thus far, a $19.5bn reauthorization of Nasa, was both small potatoes and peripheral. He has struck down at least 10 important Obama regulations, pertaining to clean streams, internet privacy and gun purchases by the mentally ill, but not everyone considers those accomplishments.

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Many Americans – more than half, in most polls – believe that Trump is underperforming as president. Strikes against him include his divisive and failed travel bans, his blatant and insulting duplicity when it comes to voter fraud or crowd size, his impulsive conduct of foreign policy, his failure to divest from the Trump Organization, his embrace of Wall Street and of foreign dictators, his addiction to cable news, and a lack of policy seriousness which leads him to confuse Iraq and Syria, confuse which direction the navy is sailing in and to say things like, “Nobody knew that healthcare could be so complicated.”

  

 Trump supporters see his presidency differently. He is praised for responding to a chemical attack in Syria with airstrikes, for generally projecting strength in foreign policy, for undoing Obama-era regulations on the environment and business, for installing a conservative supreme court justice, for protecting American jobs, and for not letting people tell him what he can’t do. It was also cool when he climbed into that truck and honked the horn.

He said that...

"It's a different kind of a presidency," Trump said in an Oval Office interview with The Associated Press, an hourlong conversation as he approached Saturday's key presidential benchmark.

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A Must-read to Understand Trump's Revoking Transgender Bathroom Guidance

President Donald Trump's administration on Wednesday revoked landmark guidance issued to public schools in defense of transgender student rights, reversing course on a signature initiative of former Democratic President Barack Obama.

Obama instructed public schools in May 2016 to allow transgender students to use the bathrooms matching their chosen gender identity, threatening to withhold federal funding if they should force transgender children to use bathrooms against their will.

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The Obama guidelines had already been put on hold by a federal judge, but the Trump administration went ahead and withdrew them. The Justice and Education departments will continue to study the legal issues involved, according to the new, superseding guidance that will be sent to public schools across the country.

Reversing the Obama guidelines stands to inflame passions in the latest conflict in America between believers in traditional values and social progressives, and is likely to prompt more of the street protests that followed Trump's Nov 8 election.

A couple hundred people gathered in front of the White House to protest the Republican president's action, waving rainbow flags and chanting: "No hate, no fear, trans students are welcome here." The rainbow flag is the symbol of lesbian, gay, bisexual and transgender people.

  

White House spokesman Sean Spicer said the White House was pressed to act now because of the pending U.S. Supreme Court case, G.G. versus Gloucester County School Board.

That case pits a Virginia transgender boy, Gavin Grimm, against officials who want to deny him use of the boys' room at his high school.

Although the Justice Department is not a party in the case, it typically would want to make its views heard. The Trump administration action on Wednesday also withdrew an Education Department letter in support of Grimm's case.

The federal law in question, known as Title IX, bans sex discrimination in education. But it remains unsettled whether Title IX protections extend to a person's gender identity.

   

Attorney General Jeff Sessions said in a statement that the Obama guidelines "did not contain sufficient legal analysis or explain how the interpretation was consistent with the language of Title IX."

He also said Congress, state legislatures and local governments were better-placed to address the issues than the executive branch.

"The Department of Justice remains committed to the proper interpretation and enforcement of Title IX and to its protections for all students, including LGBTQ students, from discrimination, bullying, and harassment," Sessions said.

The courts are likely to have the final say over whether Title IX covers transgender students. The Supreme Court could pass on that question in the Virginia case and allow lower courts to weigh in, or go ahead and decide what the law means.

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