Chinese Currency Rises – The renminbi(RMB) rose to its strongest level since 2005, the year China removed the fixed U.S. dollar valuation peg. This is seen by economists as Beijing’s willingness to use appreciation as a tool against rising inflation. However, experts believe that the government will allow for only gradual appreciation going forward to protect its massive export market.
Read more form the New York Times.
Will Russia join WTO? – U.S. Government officials have stated their desire for Russia to become part of the World Trade Organization (WTO). Currently, trade between the U.S. and Russia is about half the value of U.S.-Brazil trade market. Furthermore, the value of goods and services exchanged between the U.S. and China is approximately 12-times greater than its trade with Russia.
Read more from Forbes.
Shanghai Truckers Back to Work – Last week’s protests subsided after government officials planned on reducing or eliminating certain port and trucking fees. During the protests, an estimated 2,000 truckers disrupted cargo operations at the Port of Shanghai for several days. Normal service has now been restored.
Read more from the New York Times.
Humanitarian Air Drop Deadline – May 2, 2011 is the deadline to participate in a challenge designed to create safe new ways of air dropping humanitarian aid into populated areas. Traditionally, aid is dropped over unpopulated areas to minimize the risk of falling debris.
Participate at InnoCentive.
