EMerging Equity
CIPS
The IMF Changes Its Rules To Isolate China And Russia
By Michael Hudson A nightmare scenario of U.S. geopolitical strategists is coming true: foreign independence from U.S.-centered financial and diplomatic control. China and Russia are investing in neighboring economies on terms that cement Eurasian integration on the basis of financing in their own currencies and favoring their own exports. They also have created the Shanghai Cooperation … Continue reading
China Carefully Moving to Displace Dollar
By F. William Engdahl While Washington seems obsessed with trying to humiliate China’s President Xi Jinping and make him lose face, sending warships into Chinese territorial waters in the South China Sea just days after Obama’s White House meeting with President XI, and other provocative acts, Britain’s government is taking advantage of the growing cleft between … Continue reading
Three Obvious Signs The Entire System Is Changing
By Simon Black When I was a kid growing up in the early 80s, the United States was the undisputed dominant superpower in the world. The US dollar was awe-inspiring; on a trade-weighted basis, the dollar index was at an all-time high, and had never been as strong ever before… or since. And the dollar’s strength … Continue reading
China Launches Global Yuan Payment System
China’s Central Bank has started a global payment system which provides cross-border transactions in yuan. The China International Payment System (CIPS) intends to internationalize the yuan and challenge the US dollar’s dominance. The establishment of CIPS is an important milestone in yuan internationalization, providing the infrastructure that will connect global yuan users through one single … Continue reading
Russia, China Deepen Stock Exchange Ties
Russia’s largest exchange group the Moscow Exchange (MOEX) and the China Financial Futures Exchange (CFFEX) signed an Memorandum of Understanding (MoU) on Thursday that will help further develop financial ties between the countries. The MoU signed by both exchanges aims to strengthen the bilateral partnership and facilitate the development of both parties through information sharing, reciprocal … Continue reading
Chinese Yuan Set To Be Added As Reserve Currency This Year: Bloomberg Survey
China is set to see its currency, the yuan, officially called renminbi, being added as a reserve currency this year, according to Bloomberg. A recent survey conducted by Bloomberg shows that eleven out of sixteen economists have predicted that the International Monetary Fund (IMF) will add the Chinese currency to its Special Drawing Rights (SDR) basket during … Continue reading
BRICs Should Move To Single Market, Create Tools For Global Economic Control, Chinese Official Says
The BRICs grouping of emerging market nations — Brazil, Russia, India, China, and South Africa — should move toward a single trade and economic market, in addition to creating and promoting projects and tools for global economy control, Zhang Dejiang, the Chairman of the Standing Committee of China’s National People’s Congress (NPC), said during the first-ever BRICs Parliamentary Forum … Continue reading
BRICs Summit In Ufa To Unite Members For Development, Security
“The upcoming BRICs and the Shanghai Cooperation Organization (SCO) summits would unite countries for development, peace and security of the region and world, visiting Chinese Foreign Minister Wang Yi said here [Moscow] Wednesday,” Xinhuanet reports. During the meeting in Moscow with Sergei Lavrov, Russian FM, Mr Wang expressed his full support for the two summits … Continue reading
Russia Proposes BRICs Alternative To SWIFT Global Payment System
Russia is proposing an alternate to the SWIFT global interbank payment system for the BRICs (Brazil, Russia, India, China, South Africa) grouping of emerging market nations in a move which would further ramp up de-dollarization efforts and threaten the U.S. dollar’s global hegemony. The Central Bank of Russia (CBR) has called for a discussion with its peers on establishing … Continue reading
Chinese Yuan’s Inclusion To IMF’s SDR Basket Could Draw $1 Trillion
Around $1 trillion in global currency reserves will switch into Chinese assets should the International Monetary Fund (IMF) endorse the yuan as a reserve currency and include it in its Special Drawing Rights (SDR) basket this year, according to Standard Chartered, Bloomberg reports. “SDR inclusion in 2015 would likely have a significant market impact, driving an immediate sharp … Continue reading
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