China

On Monday, I mentioned that the Asian Development Bank Fund was a clear sign that Asia was cutting loose from the west and looking to take care of things domestically.  WIlliam Pesek of Bloomberg News put out a piece this morning…

This comes via Bloomberg: Global central banks risk inflation, currency devaluation and a “big consolidation” in bond markets by pumping cash into their economies, the People’s Bank of China said in its quarterly monetary policy report.…

A post from Reuters in overnight trading in Asia caught my eye.  It proclaimed “Asia faces up to challenges of global crisis." What I found particularly interesting about the post was the fact that the Asians had set up a $120…

China is holding its ownregarding economic growth because the government is pumping massive amounts of government money into the economy in order to make up for the loss in trade.  What does this mean for China, Chinese shares and the…

Marshall Auerback here. Yesterday, Ed made a big to-do about China's increase in gold reserves. I am going to take a different view here. CLSA is saying that the increase is from purification and miscellaneous transactions since all…

China is really looking at a lot of other options to get away from the U.S. dollar. The latest report is that it has been building huge gold reserves. There is no doubt that China wants to get out and away from the U.S. dollar now. We…

This comes from Marc Chandler of Brown Brothers Harriman: China appears to be an offensive of sorts. The governor of the PBOC proposed evolving the SDR as an alternative reserve asset. China has announced CNY60 bln of swap lines with a…

I don't want to beat a dead horse here, but the Chinese have been making a lot of muscular moves diplomatically. While shifts in balance of power often take decades, it is increasingly apparent that China is making a strategic move in that…

In the wake of recent statements by Chinese officials about the dollar and dollar assets (see our previous comments here, here and here), it does seem like the Chinese are avoiding dolar-based transactions: China and Argentina have made…

This comes from Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman (bolding in original).  Chandler does NOT see an imminent switch to  Euros in the offing, despite the recent musings by Chinese officials  (Neither…