The new oil futures contract is one of the many Chinese efforts to internationalise their currency. Yet the adoption pace has been slow. However, there could be a couple of catalysts that could cause the currency to grow quicker. If Saudi Arabia starts accepting Chinese currency in exchange for oil, it could increase the Renminbi’s growth, and deal a massive blow to the petrodollar.
China is also looking to promote the Yuan around the world to become more prominent in international trade. This is a very big deal. Especially as it is coming at a time when there are increasing tensions between the US and China on trade.
If your chances of picking a dud increase with the more stocks you add to your portfolio, there’s an argument to be made for keeping a small portfolio of high-quality businesses.
We sounded the alarm bells last week. We believe the US Federal Reserve won’t raise rates next month... find out why
Markets have long speculated about China’s corporate debt bubble. China can’t artificially prop up its system forever. Eventually it will fail.
The biggest financial story in the world today is not Fed policy or emerging-market debt. The biggest story is the global US dollar shortage.
China is now embroiled in an internal political struggle around the efforts of President Xi to make himself the most powerful Chinese leader since Mao.
If Trump’s term in office proves to be anything like his first week, champagne will be in high demand on Wall Street.
The US dollar is locked in a major bull market, rising against every currency — not just the Chinese yuan. The US dollar should scream higher into 2018.
Funny money is getting funnier and funnier. Our challenge is to figure out who the butt of the joke is.
Given China’s economic growth is relatively healthy, you have to ask why capital isn’t interested in hanging around.
Volatility is waiting to explode due to unstable currency exchange rates, bank liquidity crises, geopolitical uncertainty, and a wild US election cycle.
The Shanghai Accord in its simplest form is a weaker dollar. It was a way for China to cheapen their currency without breaking the peg to the US dollar.
China’s authorities see gaming as just another conduit for illegal capital flows. Why Crown Casino in particular was targeted is a mystery.
The IMF will hold its annual meeting, to consider additional steps to expand the role of SDRs and make China an integral part of the new world money order.