By Tomas Hult Back in 2001, former Goldman Sachs chief economist Jim O’Neill coined the acronym BRIC to highlight the immense economic potential of the emerging markets of Brazil, Russia, India and China in the decades to come. They would be the economic engines of tomorrow, he wrote. The BRICs, which cover a quarter of the world’s … Continue reading
By Frank Shostak Earlier this month, the Chinese government decided to depreciate its currency on three consecutive occasions. On August 13, the price of the US dollar was trading at 6.413 — an increase of 3.3 percent against July. The key factor behind the central bank’s lowering of the yuan is a sharp decline in the … Continue reading
By Jim Randle Some investors say China’s wild stock market gyrations have been made worse by worries about the reliability of that nation’s economic data. Critics say the reports can mislead investors by painting an unrealistically strong picture of the economy. Some economists doubt the official growth figures because other data, such as passenger travel and … Continue reading
The People’s Bank of China has lowered its interest rate for the fifth time since November boosting European stocks higher in afternoon trading. The one-year lending rate has been reduced by 25 basis points to 4.6%, which is record low for China, according to Bloomberg. Lu Ting, chief economist at Huatai Securities Co. said the … Continue reading
“Chinese shares plummeted to extend the steepest four-day rout since 1996 on concern the government is abandoning market support measures,” Bloomberg reports. According to the news agency: The Shanghai Composite Index tumbled 7.6 percent to 2,964.97 at the close, sinking below the 3,000 level for the first time in eight months. The gauge has … Continue reading
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
China’s staggeringly long history reaches back well at least 3,000 years, and possibly more, depending on who’s asked. If any single pattern can be pulled from so much history, it’s this: no Chinese dynasty lasts forever, and when they fall, it’s always catastrophic for China in general. Chinese political thinkers underpin much of their … Continue reading
Originally posted on Global Geopolitics:
? Maneuvering missile takes evasive actions China this week carried out another test of a new high-tech hypersonic glide vehicle, an ultra high-speed missile designed to deliver nuclear weapons and avoid defenses. The latest test of what the Pentagon calls the Wu-14 hypersonic glide vehicle was carried out from the…
“The International Monetary Fund pushed back until Sept. 30, 2016, the date that China’s yuan could be included in its basket of reserve currencies,” Bloomberg reports. The news agency said the following: The executive board, which represents the IMF’s 188 member nations, voted Aug. 11 to extend the composition of the fund’s Special Drawing Rights for … Continue reading
China’s economy may not be expanding as much as we think and slower than its official data may suggest, according to a recent Bloomberg survey, which is helping to explain why policy makers in the nation have stepped up stimulus efforts and devalued the nation’s currency in a move to boost exports via a weaker yuan. According … Continue reading