EMerging Equity
FX Reserves
Argentina’s Growing Dependency On Beijing
By Martin De Angelis Cash-strapped Argentina relies on China for everything from currency swaps to investments in nuclear infrastructure. Moreover, Argentina’s primary exports and sources of state funding are and will stay bound to the Chinese demand. After the 2001 financial crisis and the emergence of the Kirchner’s administration in 2003, Argentina has tried to avoid … Continue reading
De-Dollarization: China’s Gold Will Break Global Dependence On U.S. Dollar, Economist Says
China can ultimately overthrow the global domination of the U.S. dollar by using its 30,000 tons of gold reserves, according to Chinese economist Jin Zihou. Citing former U.S. Federal Reserve Chair Alan Greenspan, Chinese economic observer Jin Zihou suggested that the Chinese renminbi would be able to deal a lethal blow to today’s financial system should Beijing convert … Continue reading
Washington Versus Beijing: Curbing The Yuan
By Valentin Katasonov There has been a rise in tensions in relations between the U.S. and China in all directions. Some of the problem issues relating to the monetary and financial sphere include: the yuan’s status as a reserve currency; the convertibility of the yuan; the artificially low exchange rate of the yuan against the U.S. … Continue reading
Russia’s Putin Ratifies $100 Billion BRICs Currency Pool Deal
Russian President Vladimir Putin has ratified an agreement to establishment a $100 billion foreign currency reserve pool for the group of BRICs emerging economies, according to a document published Saturday on Russia’s official legal information site. On Wednesday the deal was ratified by Russia’s upper house of Parliament, the Federation Council. The currency pool, called the Contingent Reserve Arrangement … Continue reading
China’s New Investment Bank: A Premature Prophecy
By Mark Fleming-Williams, Stratfor Global Intelligence Former U.S. Treasury Secretary Lawrence Summers wrote on April 5 that this month may be remembered as the moment the United States lost its role as the underwriter of the global economic system. His comments refer to the circumstances surrounding China’s launch of a new venture, the Asian Infrastructure Investment … Continue reading
China To Inject $62 Billion In FX Reserves Into Policy Banks To Boost New Silk Road Project, Caixin Says
China’s Central Bank, the People’s Bank of China (PBOC), will reportedly inject $62 billion of its foreign exchange reserves into two state-owned policy banks in order to support its New Silk Road project, which is aimed at creating infrastructure in order to boost connectivity between Asia, Europe, the Middle East, and Africa. The PBOC will inject $32 billion to China … Continue reading
The War On Petrocurrencies
By Gulam Asgar Mitha U.S. Secretary of State Hillary Clinton in 2007 had supposedly asked ex-Australian Prime Minister Kevin Rudd “how do you get tough on your banker?.” This was over concerns about China’s growing power and hold on U.S. finances. According to Wikileaks, Rudd told Clinton to keep force as a last resort. Do … Continue reading
Moody’s Cuts Russia’s Sovereign Rating To Junk, Expects `Deep Recession’ In 2015
Moody’s Investors Service downgraded Russia’s sovereign debt rating to junk status on Friday, assigning a rating of Ba1 — from its previous rating of Baa3 — with a negative outlook. Moody’s said in a statement the reason for the downgrade to junk status was due to impaired prospects for the nation’s economy, further erosion of fiscal strength and … Continue reading
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