The yuan has appreciated in the past two years and that pace "should continue," a top US official said on Friday.
Alan Holmer, special envoy for China and the Strategic Economic Dialogue between the US and China, said that the yuan had gained "a little over 18 percent" since July 2005.
"The accelerating rate of appreciation is significant and welcome and we believe it should continue," he told a news conference on US Treasury Secretary Henry Paulson's trip to China next week.
The politically charged issue of the yuan's value against the dollar will be among the issues Paulson is expected to raise at his meetings with Chinese government officials in Beijing on Wednesday and Thursday, he said.
Nvidia Corp earned its US$2.2 trillion market cap by producing artificial intelligence (AI) chips that have become the lifeblood powering the new era of generative AI developers from start-ups to Microsoft Corp, OpenAI and Google parent Alphabet Inc. Almost as important to its hardware is the company’s nearly 20 years’ worth of computer code, which helps make competition with the company nearly impossible. More than 4 million global developers rely on Nvidia’s CUDA software platform to build AI and other apps. Now a coalition of tech companies that includes Qualcomm Inc, Google and Intel Corp plans to loosen Nvidia’s chokehold by going
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