Grainger, which sells everything from abrasives and pumps to
padlocks and wrenches, posted a net profit of $182.1 million, or
$2.51 a share, up from $150.4 million, or $2.06, a year earlier.Revenue rose to $2.1 billion from $1.9 billion.
Grainger, which sells everything from abrasives and pumps to
padlocks and wrenches, posted a net profit of $182.1 million, or
$2.51 a share, up from $150.4 million, or $2.06, a year earlier.Revenue rose to $2.1 billion from $1.9 billion.
“Now is not a good time to liberalise yuan,” Wang Jian, a
researcher with the National Development and Reform Commission,
China’s top economic planning agency, said in an article
published in China Securities Journal.He said a freer yuan will make it easier for developed
countries to buy Chinese assets and that sudden capital flows
would complicate Chinese policymaking.”The yuan will rise strongly after liberalisation, and a
sluggish external economy, which will last a long time, will
press down Chinese export growth,” he said.”Therefore, liberalising the yuan now will add frost to the
snow falling on the Chinese economy,” he warned.A right choice is for China to use newly accumulated foreign
exchange reserves to buy resources and technologies abroad, Wang
said.
“Now is not a good time to liberalise yuan,” Wang Jian, a
researcher with the National Development and Reform Commission,
China’s top economic planning agency, said in an article
published in China Securities Journal.He said a freer yuan will make it easier for developed
countries to buy Chinese assets and that sudden capital flows
would complicate Chinese policymaking.”The yuan will rise strongly after liberalisation, and a
sluggish external economy, which will last a long time, will
press down Chinese export growth,” he said.”Therefore, liberalising the yuan now will add frost to the
snow falling on the Chinese economy,” he warned.A right choice is for China to use newly accumulated foreign
exchange reserves to buy resources and technologies abroad, Wang
said.
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