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POPSTop China Banker Calls for Wider Use of Yuan It was the first time the head of a major Chinese bank has called for the wider use of the yuan, although a chorus of senior government officials have already voiced their concerns about the stability of the dollar and have said the yuan should be used more widely. "I think the US government and the World Bank can consider the issuing of renminbi bonds," he said, asking for a "mutual cooperation" between the US and China to promote Chinese financial services. He said bond issuance could be relatively small, at between 1bn and 3bn yuan (£100m to £300m). HSBC and Standard Chartered have both said they are preparing to issue bonds denominated in yuan. Mr Guo is a former head of China's foreign-exchange administration, which manages the country's $1.9 trillion foreign exchange reserves.
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POPSThe Last Days of Cheap Chinese More: China's Generation Y, the children born after the one-child policy came into effect, are increasingly aware of their rights to a legal wage, health insurance, and a certain number of days off every month. Their demands for better treatment will continue to drive up the cost of manufacturing in China. Already, southern China's Guangdong province, known as "the workshop of the world," is short 2 million workers, the equivalent of 14 percent of America's entire manufacturing workforce The problem for American retailers and consumers hooked on $3 T-shirts and $30 DVD players is that there is no other China waiting in the wings to make cheap goods reliably for American shoppers So importers are looking back to countries they once rejected in favor of China—Indonesia, Mexico, and Malaysia. And they are looking ahead to countries not yet integrated into the global consumer-goods supply chain, such as Brazil and Kenya
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