Renminbi provides small lift to Global Sources

Global Sources has just announced its Q2 results and notes in its press release that: "the recent reevaluation of the Chinese yuan..., at the adjusted exchange rate of 8.11 yuan per U.S. dollar..., will positively impact the company's earnings in 2005 by less than one percent".

As many of us had predicted all along, the changing value of the Renminbi isn't going to make very much difference at all to those engaged in international trade with China. There are lots of reasons for this. Let me know if you want to know.

It's obviously alliance time for the big B2B online players. As we sit waiting for the Yahoolibaba press conference in Beijing, we note that Global Sources is making play of its tie-up with eBay. In their press release, Global Sources CEO Merle Hinrichs notes "Later this year, Global Sources Direct will be offering warehousing, customer service, and payment services to assist suppliers with selling on eBay China, the Reseller Marketplace, and other eBay properties."