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Currency

This tag is associated with 11 posts

Cadence Column: Asia, October 22, 2018


By not labeling China a “currency manipulator”, the US is extending an olive branch to Beijing. But, things aren’t as they seem. On every level, China is reaching—almost grasping—to save face. This new artificial moon is honest and runs deep in Chinese culture. As part of being the center of the universe, Chinese culture arguably … Continue reading

Cadence Column: Asia, July 23, 2018


Central planning has only so much room for slight of hand tricks to keep up its sleeve. When the going gets tough, everyone goes home. For China, that means devaluing its currency, a complaint Trump has long lobbed against the trade giant. Maintaining good relations with Apple and almost achieving the manufacturing capability long held … Continue reading

Cadence Column: Asia, February 27, 2017


Americans love flags. The over-sized flag, the “Star Spangled Banner”, was a strategic tool of Fort McHenry at the Battle of Baltimore and the US national anthem itself is named after the flag. If the United States ever truly intended to communicate that it believes Beijing seats the rightful government over the island of Taiwan, … Continue reading

The one thing holding back China’s yuan


While China may be the world’s second largest economy, the future of the yuan playing a bigger role in international markets is clouded by politics. Earlier this fall, the IMF postponed a scheduled update of the designated basket of reserve currencies, a basket that is used by member countries for Special Drawing Rights (SDR). Though … Continue reading

China’s SWIFT alternative (CIPS) and the engineered death of the dollar


Forget all the nonsense and hoopla about the Apple Watch or the GM stock buy-back. Far and away the most important economic story of the week is one you won’t find on the front page of Bloomberg or MarketWatch. New reports indicate that China is ready to launch its SWIFT alternative, and for those who … Continue reading

The astounding rise of China’s currency


I sometimes wonder how the Communist revolutionary leader Mao Zedong, who warned against taking “the capitalist road,” would feel about his face on all those Chinese bills being traded around the world these days. As of this week, the renminbi is being traded in a major way in Canada as well, after Finance Minister Joe Oliver opened North America’s first Chinese … Continue reading

China’s boom is over, and here’s what you can do about it


The powerhouse that seemed ready to propel the global economy for decades is now stuck in a period of slowing growth. Here’s what that means for your portfolio Every so often an investment theme comes along that seems so big and compelling that you feel it can’t be ignored. This happened in the 1980s with … Continue reading

Chinese yuan will be convertible within 5 years; HSBC economists


HSBC economists (Hogbin Qu, HSBC chief economist for China and two other HSBC economists specialising in the analysis of the Chinese market – Sun Junwei and Ma Xiaoping) believe that the Chinese yuan will become a convertible currency in the next five years. The announcement hopes to accelerate the opening of the Chinese “capital account” … Continue reading

U.S. political rhetoric to stay as China widens yuan band


China’s widening of the yuan’s trading band will do little to blunt criticism of its currency policy by the United States and the Treasury Department said on Sunday more progress was needed to correct a “misalignment” of the exchange rate. Not much shift in the political rhetoric from Washington was expected in the wake of … Continue reading

China currency move nails hard landing risk coffin


China’s weekend reform of its currency regime nails shut the coffin on the last remains of doubt about whether the world’s second biggest economy has successfully steered a course past a hard economic landing. Investors were questioning whether the worst sequential slowdown in China’s economy since the 2008-09 global financial crisis could enter a sixth … Continue reading

Chinese growth data slows Australian and New Zealand dollars


The Australian and New Zealand dollars beat a hasty retreat on Friday after data showed China’s economy grew at its weakest pace in nearly three years in the first quarter, confounding rumours of an upside surprise. China reported GDP growth of 8.1 percent yr/yr in the first quarter, below forecasts of 8.3% and way under … Continue reading

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