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This tag is associated with 21 posts

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

Three major nations absent as China launches World Bank rival in Asia


As Japan and the US will not allow China to increase its stake in the Asian Development Bank (ADB) and World Bank, China set has set up a multinational rival bank called the Asian Infrastructure Investment Bank (AIIB). 21 countries in the region, all of them except Japan, Australia, Indonesia and South Korea, attended the … Continue reading

China’s Xi goes to South America to break US dominance


Reuters today reported on Xi Jinping’s goal of pushing for the developing world’s rights. Reuters quote Chinese President Xi Jinping as saying in an interview with South American media, “China would try to better play the role of a responsible major power and promote the rights of the developing world.” However, Reuters says that there … Continue reading

China poised to pass U.S. as world’s leading economic power this year


The U.S. is on the brink of losing its status as the world’s largest economy, and is likely to slip behind China this year, sooner than widely anticipated, according to the world’s leading statistical agencies. The US has been the global leader since overtaking the UK in 1872. Most economists previously thought China would pull ahead in … Continue reading

China pivots to Latin America


In September of this year, China announced a $40 billion investment to build a canal through Nicaragua that is to be an incredible engineering marvel. The proposed canal is still in the early stages of development, and was rapidly pushed through the Nicaraguan parliament earlier this year. The potential waterway is expected to dwarf the … Continue reading

Economic motivation behind China’s dam building


The Chinese government has given preliminary environmental approval for construction of what would eventually be the country’s largest hydroelectric dam. The project, on the Dadu river in the southwestern province of Sichuan, is expected to take 10 years to construct at an estimated cost of a little over $4 billion. At 314 meters tall, it … Continue reading

BRICS countries find it hard to run as a herd: Brazil, Russia, India, China, South Africa


At a summit in South Africa on Wednesday, Vladimir Putin likened the BRICS nations – Brazil, Russia, India, China and South Africa – to Africa’s “Big Five” game beasts of trophy hunting lore – the lion, elephant, buffalo, leopard and rhinoceros. The Russian president’s comparison captures the dilemma of these muscular emerging global powers, which … Continue reading

What could derail a middle class China?


Every investor knows about the middle income trap.That’s when countries hit a certain income level, say around $15,000 annually per head, and growth ceases to impress. The economy moves slower. It goes through bouts of recessions, some steeper than others. Middle class economies contract.  Poorer economies on route to middle classdom, expand. China is far from … Continue reading

China becomes the world’s biggest trading nation


China surpassed the U.S. to become the world’s biggest trading nation last year as measured by the sum of exports and imports, a milestone in the Asian nation’s challenge to the U.S. dominance in global commerce that emerged after the end of World War II in 1945. U.S. exports and imports last year totaled $3.82 … Continue reading

China’s shrinking pool of workers may limit economy’s recovery


China’s growth rebound may be capped by a labour force squeeze and shrinking resources that leave the government satisfied with rates of expansion as low as half the peak during the past decade. A pace of 7 percent to 8 percent reflects economic forces, Ma Jiantang, head of the National Bureau of Statistics, said on … Continue reading

China: PM2.5 air pollutants causing more deaths than estimated, study says


The health risks of microscopic air pollutants have been grossly underestimated on the mainland, with nearly 8,600 premature deaths expected this year in four major cities, a study has revealed. And premature deaths are “just a tiny fraction” of the adverse health impacts of tiny airborne particles, less than 2.5 microns in diameter, known as … Continue reading

China is top dam builder, going where others won’t


On the Tatay River, up a sweeping jungle valley in a remote corner of Cambodia, Chinese engineers and workers are raising a 100-meter- (330-foot-) high dam over the protests of villagers and activists. Only Chinese companies are willing to tame the Tatay and other rivers of Koh Kong province, one of Southeast Asia’s last great … Continue reading

Citibank forecasts a reversal in China commodity, growth patterns


In his latest note Citi‘s Edward L Morse writes “the commodity super cycle is over.” That is a monumental call, given how popular the long commodities trade has been. Why the turn? Basically, it’s all got to do with China. First, the economy is slowing down, and second as China rebalances its economy it is … Continue reading

China IMF boycott ‘a sign of things to come’


China’s top level boycott of global financial meetings in Japan this week is a sign of things to come, analysts say, as an economically emboldened Beijing shows struggling Western nations it doesn’t need to play by their rules. With global growth slowing, many in the developed world are looking to Beijing to pick up the … Continue reading

China to send lower ranking officials to IMF Tokyo meet; snub to Japan


China‘s delegation to the annual meetings of the IMF and the World Bank in Tokyo will not be led by its most senior finance officials, a report from state news agency Xinhua said on Tuesday, in what looked like a deliberate snub of Japan. According to Chinese protocol, only the most senior officials usually lead … Continue reading

BRIC hallucination: China won’t be engine of new world order, nor Russia, nor India


In the New World Order, the BRIC nations – developing nations – are to be the engine of global growth. That is at least what officials from the foremost global institutions have maintained all along, divorcing their narrative from the other, more populist narrative of just what the ‘New World Order’ is. That the ‘New … Continue reading

China’s new privatisation plan faces push-back risk


China‘s new push to open state controlled industries may look bold after a decade of stuttering privatisation progress, but Beijing faces stiff resistance from vested interests in its effort to extend its World Trade Organisation dividend. Beijing’s leaders, its top think-tanks, the World Bank and private sector economists all largely agree that for China to … Continue reading

China in hardest private-sector push in decade


China signalled on Wednesday it wanted to boost private investment in its energy sector as Beijing makes its most determined push since joining the World Trade Organisation to reduce the role of the state sector in the economy. Many analysts say China must allow more private investment if it is to unlock new sources of … Continue reading

China must act urgently to curb city emissions: World Bank


China must act urgently on multiple fronts if it is to cut greenhouse gas emissions from its rapidly expanding cities and hit government targets for curbing carbon intensity, a new report from the World Bank said on Thursday. Cities generate an estimated 70 percent of energy-related greenhouse gases and with China set to increase its … Continue reading

Loans to poor countries – China has strings attached


“China is a very aggressive and pernicious economic competitor with no morals. China is not in Africa for altruistic reasons. China is in Africa for China primarily.” This was the argument put forth by a confidential US State Department memo in February 2010, later published by Wikileaks. The secret memo reinforced Western perceptions, not often … Continue reading

China growth slower in 2012 and recovery mild says World Bank


The World Bank cut its forecast for China’s 2012 economic growth to 8.2 percent on Thursday and said a rebound might not begin before the third quarter of the year as slack foreign demand and a government-induced real estate slowdown restrain a recovery. “There is the potential for growth to be bumping along the bottom … Continue reading

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