The Chinese Communist Party (CCP) has recently implemented two reductions in interest rates for U.S. dollar deposits in order to stabilize the exchange rate of the Chinese yuan. Analysts have raised concerns about the rapid depreciation of the yuan, which could lead to an increased outflow of funds from China and potentially heighten the risk…
Countries Engaging in De-Dollarization ‘Acting Against Their Own Self-Interest,’ White House Warns
Countries that are joining China and Russia in their de-dollarization campaign could be “acting against their own self-interest,” warned John Kirby, the coordinator for strategic communications at the National Security Council in the White House. Argentina will pay for imports from China in yuan instead of U.S. dollars to prevent a further decline in the…
NTD Business (April 26): Disney Sues DeSantis After Privileges Revoked; House Republicans Vote on Debt Ceiling Bill
April 26, 2023
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AIBusiness & MarketsCompaniesdebt ceilingdebt limitdedollarizationdesantisdisneyDollareconomic policieseconomyEpochTVGoogleLive VideosMarketsmicrosoftNTD Businesspersonal financeUSVideoyuan
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The House is voting on a Republican bill to raise the U.S. debt limit. What are lawmakers saying, and does it have any chance to pass? Disney is suing Florida Gov. Ron DeSantis, escalating the conflict to new heights. The company just had its special taxing powers revoked. Both Microsoft and Google had a heavy…
Brazil-China Yuan Trade Deal Not a Game Changer
Commentary According to a statement by the Brazilian government, Brazil and China reached an agreement on March 29 to conduct trade in their own currencies rather than the U.S. dollar. No details have been released on how this will work or if it applies to all trade between the two countries. All that has been made…
China Ditches US Dollars in New Brazil Agreement, Settles First LNG Trade in Yuan
March 30, 2023
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BrazilBusiness & MarketsChinaChina Business & Economyeconomic policieseconomyenergyEuropeEurope-China RelationsGlobal ExpansionInternational RelationsMarketsSpecial TopicsUSWorldyuan
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China settled its first purchase of liquefied natural gas (LNG) in the yuan as the world’s second-largest economy continues to accelerate the currency’s presence in the international market. China National Offshore Oil Corporation (CNOOC), the country’s largest offshore oil and gas producer, acquired an LNG shipment from France’s TotalEnergies through the Shanghai Petroleum and Natural…
Permitted Share of China’s Yuan in Russian Wealth Fund Doubled to 60 Percent: Finance Minister
MOSCOW—Russia’s finance ministry on Friday said the maximum possible share of Chinese yuan in its National Wealth Fund (NWF) had been doubled to 60 percent as it restructures its rainy-day fund to reduce dependency on currencies from so-called “unfriendly” nations. The ministry said the permitted share of gold in the NWF would also be doubled,…
China Loans Growth Is ‘Lying Down’ With No Clear Answer to Its Financial Problems
Commentary The People’s Bank of China (PBoC) cut the required reserve ratio (RRR) by 25 basis points (bps) for all financial institutions. The mouthpiece claimed a release of 500 billion yuan (or over 70 billion U.S. dollars) in just one cut, but if this had been the case, then the trillion-debt crisis would have been…
Yuan Depreciation Won’t Help China Exports
October 26, 2022
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Business & MarketsChinaChina Business & Economydepreciationexchange rateHong KongOpinionThinking About Chinayuan
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Commentary The latest China data continue to show an overall downtrend, although some rebound is seen. The domestic economy, as represented by internal demand (private and government consumption expenditure and investment), remains weak under deleveraging (paying off debts). One possible way to improve the situation is to rely on external demand, which is net exports….
China’s Yuan Will Suffer More
Commentary China’s yuan has slid against the dollar. Three things account for this: 1) interest rates in the United States and elsewhere are rising while rates in China are declining; 2) although all economies are slowing and indeed seem on the verge of recession, China’s economic and financial problems seem more fundamental and present greater…
Detainment of US Diplomats in Chinese COVID-19 Camps Must End: Congressmen
Sixteen U.S. diplomats and their family members are reportedly being held in Chinese quarantine camps against their will. Two congressmen are pushing to find out what’s being done to free them. Mass student protests broke out in a Chinese city. Local authorities there are blaming Western countries for the unrest. Joint naval drills are kicking…
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