EMerging Equity
renminbi
China’s Transition To Slower But Better Growth
China is moving to a “new normal” of slower yet safer and more sustainable growth. This involves giving the market a more decisive role in the economy, says the IMF in its annual assessment of the economy. China’s growth is expected to be 6.8 percent in 2015, down from 7.4 percent last year. This slowdown, … Continue reading
Regional Impact Of Renminbi Depreciation: ADB Chief Economist Shang-Jin Wei
The move by People’s Bank of China’s (PBoC) this week to loosen the renminbi (RMB) exchange rate, inducing a depreciation of the RMB against the US dollar by 3.5% in two days, has sparked intense debate among economists, pundits and policymakers. Does the depreciation show the People’s Republic of China (PRC) is moving against or … Continue reading
As Growth Slows In China, Its Central Bank Devalues Currency By A Record 1.9%
China’s Central Bank, The People’s Bank of China (PBOC), has weakened the yuan’s daily reference rate by a record 1.9 percent on Tuesday and says it will strengthen market-oriented reforms in addition to increasing two-way market volatility, allowing depreciation to counter a slump in the nation’s exports. Following the move by the PBOC, the yuan dropped an unprecedented 1.6 percent … Continue reading
Chinese Yuan: More “Significant Work” Is Needed Before Deciding Whether To Grant The Renminbi Reserve Currency Status, IMF Says
“The International Monetary Fund said the yuan trails its global counterparts in major benchmarks and that “significant work” in analyzing data is needed before deciding whether to grant the Chinese currency reserve status,” Bloomberg reports. According to the news agency: IMF staff members also opened the door to a possible delay in any approval with … Continue reading
IMF Work Progresses on 2015 SDR Basket Review
SDR review takes place every five years Staff paper lays out initial considerations; formal Board meeting late 2015 Focus on Chinese renminbi for meeting inclusion criteria The IMF Executive Board will formally review the composition and valuation of the Special Drawing Rights (SDR) basket toward the end of the year. As part of this process, … Continue reading
De-Dollarization: Will China’s Yuan Become A Global Reserve Currency?
In recent months, China has stepped up a longstanding campaign for its currency (officially called the renminbi [RMB] but also referred to as the yuan), to be included as a part of the composition of the International Monetary Fund’s (IMF’s) Special Drawing Rights (SDR). By Templeton Emerging Markets Group While the media is abuzz with the … Continue reading
Shadow Play: How China’s Unregulated Banks Feed Its Boom And Bust Economy
By Nafis Alam More turbulence on the Chinese stock market highlights just some of the challenges facing the world’s second-largest economy. Following losses of US$3 trillion in the three weeks from mid-June, the Shanghai Composite has since recorded its biggest one-day fall for more than eight years. It’s clear that regulatory reform is needed in the … Continue reading
China’s New Silk Road Initiative Is Credit Positive For Emerging Markets Involved, Moody’s Says
China’s ambitious New Silk Road initiative — that aims to deepen the country’s economic integration with more than 40 countries in Asia, the Middle East, and Europe by creating an unbroken transport and infrastructure network to boost connectivity — is credit positive for the emerging market sovereigns involved, Moody’s Investors Services said on Tuesday. Moody’s says … Continue reading
De-Dollarization: Yuan Spreads To World’s Biggest $15Tn Metals Bourse
The London Metal Exchange (LME) on Tuesday started accepting yuan as collateral against contracts after getting permission from the Bank of England. “The renminbi [yuan – Ed.] is on its way to becoming one of the world’s most widely-used currencies. We are pleased to be able to help our members take advantage of the opportunities … Continue reading
China’s New Silk Road: One Belt, One Road — More Than Just A Geopolitical Game
By Danyi Yang & Mark McNamee Ever since Chinese President Xi Jinping proposed to build a cross-regional economic plan in 2013 to strengthen trade and investment partnerships across Asian, European and African markets, China’s “One Belt, One Road” initiative has been attracting worldwide attention with its massive scale and immense potential economic impact. China’s Master … Continue reading
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