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The article discusses the issue of renminbi (RMB) internationalization. Internationalization of China's currency is part of its opening-up strategy and foreign trade expansion efforts since its membership in the World Trade Organization. In April 2012, an offshore yuan center opened in London, England marking RMB expansion in Europe. The rationale of RMB internationalization, the drive to ensure RMB liquidity and an outlook on RMB's performance in the international market are further discussed.

Explains why, with Asian currencies held steady, the euro is bearing the brunt of the U.S. dollar's fall. The euro's rise to record heights; Performance of other world currencies, including the Chinese yen; How U.S. policymakers have abandoned a strong-dollar policy in order to boost exports and sustain growth; Japan's manipulation of the yen-dollar rate; View that the euro's rise will do little to correct the trade gap; Focus on the issue at the February 2004 meeting of Europe's G-7 finance ministers.

Examines the fall of the Chinese yuan and its impact on Europe and the U.S. balance of trade. Decline of the U.S. dollar; The increased value of the European euro; How China's currency remains fixed to the dollar, despite trade surpluses and growing reserves; Observation that the burden of upward adjustment of other currencies against the dollar has fallen on the euro; Concerns of Nicholas R. Lardy, author of 'Integrating China into the World Economy'; Outlook for China's move toward a more flexible currency.

Chinese spot ferro-silicon prices have continued a firm ascent on bullish sentiment amid tight supply, recording their highest levels since the start of 2014. [ABSTRACT FROM AUTHOR]

The article observes that 8.3 and 1.19, 4 and 0.4, 175 and 1,639 are very powerful numbers. If in coming months any of them changes drastically, the world will change: 8.3 is how many Chinese renminbi can be purchased with $1 U.S.; 1.19 is the number of U.S. dollars needed to buy 1 euro; 4 percent is the projected rate of growth of the U.S. economy this year, while 0.4 is how much Europe will probably grow this year; 175 is the millions of dollars U.S. President George W. Bush already has available to fund his re-election campaign; 1,639 is the number of U.S. soldiers killed and wounded in Iraq since Bush announced the end of major combat in May. These are important numbers because each summarizes a trend with global consequences. The transatlantic relationship is not good--and the combination of a strong euro and the U.S. electoral campaign will not improve it. There are many frictions, resentments and misunderstandings, among them the Iraq war and trade.