October 08, 2010
Chinese Household Wealth May Double in 5 Years
Labels: economic impact, globalization
September 14, 2010
Summer Davos 2010 Underway in Tianjin
Labels: foreign exchange, global economy, globalization, world economic forum
September 09, 2010
Deutsche Bank Enters ChongQing
Labels: banking, financial news, globalization
March 22, 2010
Historic Chinese Drought Marks World Water Day
China has suffered devastating droughts from time immemorial. Beijing says the drought in the southwestern region is the worst in 100 years. Officially 51 million Chinese are impacted. The rains stopped coming last October and some areas have not seen rain for 9 months. Downstream along the Mekong River China's dams are blamed by critics in Thailand, Laos, and Vietnam. Wen Jiabao said no one in China would go without drinking water and indicated Beijing will ramp up relief efforts....
Labels: economic impact, globalization
December 18, 2008
TECRO Top Clinton Foundation Donor
Labels: china policy, globalization, taiwan
November 06, 2008
AVIC I & II In Massive Merger of Aerospace Industry
Labels: aerospace, aircraft, avic, globalization, jet planes, military-industrial complex
October 22, 2008
China Coupling
Labels: economic impact, global economy, globalization
June 04, 2008
Iran China Ties Build Despite Pressure
At a press conference today Iranian ambassador to China Javad Mansouri said the two countries are increasing ties particularly in energy development.
China is buying more oil from Iran and imports of petrochemicals have grown from under $100 million (US dollars) a decade ago to an expected $1 billion this year. China accounts for around ten and a half percent of Iran's petrochemicals exports.
Last month Shanghai hosted an "Investment Opportunities in Iran" conference. Trade with the "Dragon's Head region (Shanghai, Jiangsu, Anhui, & Zhejiang) was in the billion$ in 2007.
Chinese oil majors are developing big oil and gas fields in China and Chinese auto manufacturers will soon supply Iran with passenger cars. Iran is one of many emerging markets for autos with sales over 1 million/year already. Chery will be rolling out the popular QQ sometime this year. And Chang'An Auto, partner to Ford Motors in China, just started a joint venture with the Iranian PIDF enterprise to assemble Chang'An's 1.3 liter mini, Benben, with production of 250,000 a year expected around 2012.
Meanwhile, geopolitical pressures of the EU and USA will leave this huge emerging market to China unless wiser heads soon prevail.
Labels: china, Chinese business, foreign investment, global economy, globalization, iran, opportunity
April 02, 2008
Is Renminbi The Future Reserve Currency?
Of course this is big picture and looong term (decades if not more). Something to think about just the same."In the long run, the most likely contender to the USD as the dominant
international reserve currency, in our opinion, is likely to be an Asian
currency centred on the Chinese RMB."
Labels: bretton woods ii, china, currency, dollar, globalization, renminbi, rmb, yuan
February 15, 2008
Japan Forex Reserves Growing "Suspiciously Fast"
Morgan Stanley believes the net result is not stealthy intervention but skillful day trading of Yen/Euro positions and that the data reveals Japan is diversifying away from the US Dollar to over 20% Euro composition in its foreign exchange reserves."Japan’s reserves are growing suspiciously fast. Japan’s foreign reserves expanded from US$946 billion in September 2007 to US$996 billion in November, an increase of US$50 billion in four months. Assuming a 2.5-3.0% return on the underlying assets, Japan should only be enjoying US$25-30 billion in annual investment earnings, or US$6-8 billion a quarter. Further, it is widely assumed that Japan has the bulk (90%) of its reserves in USD, and the MoF never diversified away from USD. With such low holdings of EUR, valuation changes – from the rise in EUR/USD – should not have been a major factor generating gains in reserves. Indeed, what is embedded in our reserve tracker file assumes 90% USD holdings. Our presumptive calculations identified a US$13.7 billion gain during September-January due to the returns on the underlying assets, and another US$18 billion from valuation changes, leaving US$18 billion of the reserve increases unexplained by our metric. Could the MoF have conducted secretive interventions worth US$18 billion? "
If true, this raises another interesting question: Is America's loyal Asian satellite dumping the Dollar?
Labels: currencies, euro, foreign exchange, forex, globalization, japan
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