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Nouriel Roubini: Why The World Needs A Financial Early-Warning System
By Nouriel Roubini Recent market volatility – in emerging and developed economies alike – is showing once again how badly ratings agencies and investors can err in assessing countries’ economic and financial vulnerabilities. Ratings agencies wait too long to spot risks and downgrade countries, while investors behave like herds, often ignoring the build-up of risk … Continue reading
China’s Road To Recovery Brings Emerging Market Turmoil
By Miguel Ferreyra de Bone Following the decision of the Chinese government to trim interest rates and adjust the requisites of bank reserves for commercial banks, we are starting to see some improvement from the 20% loss in the Shanghai stock exchange last week. More losses in emerging markets should be expected, however. The financial turmoil that the … Continue reading
Washington’s Financial/Currency War On China: Eclipsing Of The Dollar By The Yuan – OpEd
By Mahdi Darius Nazemroaya The Chinese are in the process of displacing the monopoly of the US dollar. They are dropping their US Treasury bonds, stockpiling gold reserves, and opening regional distribution banks for their own national currency. This will give them easier access to capital markets and insulate them from financial manipulation by Washington and … Continue reading
How China’s Currency Policies Will Change The World
By Stratfor Global Intelligence The recent fluctuations in China’s currency typify the best and worst of a globalized world, where developments in one place can instantly change the political and financial calculations of governments in others. For most of human history, the communities, cultures and economies of the world existed independently of one another, separated … Continue reading
BRICS Bank: What Is ‘New’ About The New Development Bank?
By Leslie Maasdorp Last month marked the official launch of the New Development Bank (NDB) in Shanghai. After the short-lived fanfare and excitement, the real work is now well under way to build, from humble beginnings, a new global development finance institution. The historical context that gave rise to the BRICS (Brazil, Russia, India, China and … Continue reading
Emerging Market Rout Deepens With No End In Sight
A rout in emerging market (EM) stocks and currencies has deepened amid a series of devaluation events, oil prices at a six-year low and continuing to plunge amid a global glut, concerns about the U.S. Fed hiking interest rates, and growth concerns in China. Indeed, last week was a rough week for emerging markets: EM currencies … Continue reading
Which Countries Are Most Exposed To China’s Currency Devaluation?
By Alex Christensen China’s decision to let the yuan depreciate last week came for a number of reasons, including being a needed boost for Chinese export industries. But there are two sides to every currency swing, as the following countries are quickly learning. Did China devalue its currency or liberalize its currency market when it suddenly … Continue reading
Keeping The Market Bubble-Boom Going
By Thorsten Polleit The US Federal Reserve is playing with the idea of raising interest rates, possibly as early as September this year. After a six-year period of virtually zero interest rates, a ramping up of borrowing costs will certainly have tremendous consequences. It will be like taking away the punch bowl on which all the … Continue reading
Asset-Price Inflation Is Entering Its Last Dangerous Phase
By Brendan Brown Asset price inflation, a disease whose source always lies in monetary disorder, is not a new affliction. It was virtually inevitable that the present wild experimentation by the Federal Reserve — joined by the Bank of Japan and ECB — would produce a severe outbreak. And indications from the markets are that the … Continue reading
The Greek Coup: Liquidity As A Weapon Of Coercion
“My father made him an offer he couldn’t refuse. Luca Brasi held a gun to his head and my father assured him that either his brains, or his signature, would be on the contract.” … Continue reading
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