What does it really mean ?
Considereing the Chinese government has a long and impressive record manipulating rules, sabotaging foreign competition and falsifying the exchange rates by state interference, how much of it is actually ftrue ?
Baidu rounded off a busy week on Friday with the Chinese search giant promising to ramp up its mobile search and social media offerings, after decent fourth quarter financials. CEO Robin Li said on an earnings call that the firm would look to monetise its mobile traffic in order to maintain the strong momentum which saw it …
..but at least manipulating (better said that way - no such thing as "falsifying" an exchange rate IMHO) the exchange rate is no secret. They work very hard to keep their currency cheap, which helps exports (makes Chinese goods relatively cheap after export) and hurts imports (makes international goods relatively expensive after import). Basic macroeconomic theory at work.
IIRC, Japan used to do the same thing - working to keep their exchange rate with the US in the sweet spot for exports.
Somehow I don't think that Google is worried, just how many people do you know outside China who use Baidu?
Baudu only exists because of the unfair conditions placed on Google when it tried to compete fairly in the Chinese market?
Baudi has benefited from taking on Google employees.
In the end it has nothing to offer markets outside Chino Asian markets.
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