|
Gillard declined to comment on newspaper reports that Australia will become only the third country after the United States and Japan to have a direct currency exchange with the yuan in an announcement to be made in Shanghai. Such a direct exchange would eliminate the need to convert to U.S. currency and reduce transaction costs for trade. "We are going to have to wait until I'm in Shanghai" to see what is announced, she said. Gillard said the high Australian dollar "may persist for some time" because of Australia's growing status among investors as a safe haven currency and Chinese industrial demand. The delegation will begin its five-day China visit at the annual Boao Forum for Asia, a government and business leaders' summit on the southern Chinese island of Boao. It will also visit Beijing and Shanghai.
[Associated
Press;
Copyright 2013 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor