The Web Tycoon’s blog

The Chinese president Hu Jintao, that begins Tuesday an official visit to the United States, considers that the prominence of the dollar in the international system “is something from the past”, and states to the United States the necessity to boost cooperation between both superpowers.

“Both win with a solid relationship between China and the United States and we lose if there is confrontation”, pointed the Chinese president in a written interview with The Wall Street Journal and Washington Post, where Hu Jintao avoided to answer specific questions about controversial subjects.

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China increased his purchases of debt from the treasure of the United States in July after two months of net sales, informed yesterday the official newspaper “China Daily”, looking forward for the visit of the Chinese Prime minister, Wen Jiabao, to New York.

The amount of debt from the United States owned by China, slightly grew in June to $846.7 Bn, according official figures, so China continues being the main borrower of the United States although the concern on Barack Obama’s administration.

The growth of Chinese purchases coincided with the last call of the Treasury secretary of the Unites States, Timothy Geithner to persuade Pekin to perform a significant and sustained increase of the price of Yuans, with the objective to obtain a more equilibrate a bilateral economy.

During the first seven months of the year, exports from the United States to China grew by 36% yearly, while the ones from China to the United States grew by 21%.

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China announced this week that will adopt a more flexible policy about the exchange rate of the yuan, and will allow a moderate revaluation against the dollar.

The decision announced by surprise also shows that the appreciation allowed by Beijing will be gradual.

“Given the recent economic situation of national and international markets, the Popular Bank of China decided to advance the reform on exchange rates of the renmimbi and increase the flexivility of exchange rates”. Said the central bank in a communicate.

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The market share of Google in China, the country with more Internet surfers of the world, decreased from 35.6% to 30.9 in the first quarter of 2010, matching with the closing of Google.cn, highlighted the company Analysys International.

According company Analysys , the winner of the “case Google” was his main competitor in the country, the search engine Baidu, that increased its share in search engines from 58.4% to 64%.

On the 23th of March, Google closed his Chinese version, that autocensured “sensible” websites for the communist government, and since then, the URL Google.cn redirects the users to the version from Hong Kong of the search engine., also in Chinese language, but not censored.

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The Chinese economy became in 2009 the first exporter in the world, surpassing Germany, by making the 9,6% of the exportations in all the world, with a value higher than $1,200Bn according data from the World Trade Organization (WTO).

This way, the Asiatic giant advanced a position since 2008, when the first exporter of goods was Germany, the second China and the third the United States.

From the point of view of importations, according the data from the World Trade Organization these countries are also holding the first three positions, although the United States are still keeping the first position once more, the second position is to China (that advanced a position from 2008) , and the third from Germany.

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