Miscellaneous International Trade Notices
The Washington Post reports that China has resolved to shift some of its foreign exchange reserves away from the U.S. dollar and into other world currencies in a move likely to push down the value of the greenback. The article states that the new policy reflects China's fears that too much of its savings is tied up with the dollar. (WP, 01/10/06 www.washingtonpost.com )
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1. China Set to Reduce its Exposure to Dollar
2. "Final Version" of CBP's Strategic Plan Not Yet Approved for Extended Distribution
According to sources at U.S. Customs and Border Protection, CBP's Strategic Plan for FY 2005 - 2010, was finalized in May 2005, but as of late December 2005, the department had not yet approved it for extended distribution. (See ITT's Online Archives or 12/29/05 news, 05122905 for BP summary of CBP's FY 2005 Performance and Accountability Report, which discusses aspects of the plan. See ITT's Online Archives or 03/07/05 news, 05030705 for BP summary of this CBP draft Plan.)
3. One Hong Kong Trader's Views on Buying China Textile Quota from Brokers
According to one trader in Hong Kong contacted by Broker Power in early January 2006, although there are brokers that offer China textile quota at a price, the prices are fluctuating and arranging the purchase is difficult. For example, the quota holder is preferring to be the exporter of the actual shipment, etc.