Negotiations between the United States and China have started over again with initial reports claiming that it was a good start and that there was a very positive atmosphere. It is certain that discussions will continue with America trying to establish its global competitiveness and especially to show China that it can compete with it at any level. In this, President Biden has to show off the huge program of reconstruction of American infrastructure and the shift to more environmentally-friendly energy sources.
Inland, Chinese construction companies managed to move again within the range of sales they have between 2017-2020. Sales of major manufacturers reached 21% even despite new stricter lending criteria among others.
Strong rally for yuan
The Chinese seem to have revealed their good mood this time before the beginning of talks with the US and several weeks before they had accelerated the appreciation of the currency. As a result the exchange rate is below 6.40, which is at the highest levels in relation with the dollar since 2018.