The Chinese regime is hiding trillions of dollars in “shadow reserves,” according to an economist and former Obama-era Treasury Department official. Mr. Brad Setser, who served on President Joe Biden’s 2020 transition Agency Review Team, recently warned that China possesses far more foreign exchange reserves than what the regime is reporting. He estimated in The…
China’s $3 Trillion in ‘Shadow Reserves’ Threatens Global Economy: Former US Treasury Official
Hong Kong Raises Interest Rate, its USD-Pegged System May Detonate Asset Bubble
The Hong Kong Monetary Authority (HKMA) recently announced an interest rate hike after the region’s foreign exchange reserves hit a two-year low. Stabilization of the HKD exchange rate would eat into many foreign exchange reserves, and create a pressing threat to the assets bubble, experts warned. HKMA’s move comes the day after the Federal Reserve…
China’s State Media Claims De-Dollarization Improves RMB’s International Status
May 9, 2022
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ChinaChina Business & EconomyDe-DollarizationFinance & Business Tiesforeign exchange reservesoil RMBrmbSpecial Topicsyuan
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The U.S. dollar has long been recognized as the leading global reserve/fiat currency. But recent hardships posed by the pandemic, war, economic sanctions, dwindling food reserves, and energy shortages have motivated some countries to accelerate the diversification of their currencies. This emerging trend is referred to as de-dollarization. Official media of the Chinese Communist Party…
Russian Investors Find Short-Term Solution to Western Sanctions Against Moscow, Expert Says
March 14, 2022
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CCPChinaChina Business & EconomyChinese Yuaneconomic sanctionsEuropeforeign exchange reservesInternationalRussiaRussia-UkraineRussia-Ukraine WarRussian banksthe SWIFTUkraineWestern sanctionsWorld
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Converting foreign assets into Chinese yuan assets may be a short-term solution for Russian investors in the wake of Western sanctions against Moscow, according to experts. The exclusion of major Russian banks from the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, shuts them out from the U.S.-dominated international fund transfer system. Although this severely…
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