China designated a clearing bank in Seoul for yuan transactions in South Korea on Friday, coinciding with a visit by President Xi Jinping, as Beijing promotes greater use of its currency overseas, AFP reports. China’s central bank has authorised the Bank of Communications, the country’s fifth largest lender, to undertake yuan clearing business in the [...]
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A new study (1) suggests China’s economy has grown faster than previously thought, leading some analysts to predict that China could surpass the United States as the world’s biggest economy by the end of the year. The figures were released Wednesday in a report by the International Comparison Program, which is part of the United [...]
A U.S. recruiter is hiring nuclear power workers in the United States to help Japan gain control of the stricken Fukushima Daiichi plant, which has been spewing radiation. “About two weeks ago we told our managers to put together a wish list of anyone interested in going to Japan,” said Joe Melanson, a recruiter at [...]
Europe’s energy commissioner Guenther Oettinger dubbed the nuclear disaster an “apocalypse”, saying Tokyo had almost lost control of events at the Fukushima power plant. Explosions and a fire at Japan’s quake-hit nuclear plant have unleashed dangerous levels of radiation, sparking a collapse on the stock market and panic-buying in supermarkets. Tokyo stocks, punished on Monday [...]
“This super destructive Japan earthquake is going to cause American interest rates to jump a percent or two or three — possibly more. Indeed, the Japanese are the number one buyer of U.S. debt bonds. Can’t they cash a load of them in to redeem for reconstruction cash? If they try that the Americans will [...]
“AUSTRALIA will face ”significantly” bleaker economic prospects when the resources boom ends unless it reverses a damaging slump in productivity, a new report has found.” To avoid this fate, the report from the Grattan Institute calls on the government to revive the economic reform agenda, with a focus on better training and promoting innovation. If [...]
“China, in bailing out Europe, is asking for its goods to be allowed in without barriers .. We hope that the EU will relax restrictions on high-tech exports to China … and develop trade relations that are balanced and sustainable,” Mr. Li wrote in an op-ed titled, “China will be more open to the world” [...]
“”The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson, Financial Times contributor. “Well, [...]
“Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency’s value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs.” — MyWay News The G-20′s failure to adopt the U.S. stand has underlined [...]
“Rampant issuance of dollars by the United States is saddling China with “imported inflation”, Chinese commerce minister Chen Deming was quoted as saying by state media on Wednesday.” Too many people are using credit to subsidize lives eroded by job losses and working lower paying jobs as more of their old jobs/economy went to communist [...]
Bank of England governor Mervyn King has warned that tensions between countries over their respective exchange rates could degenerate into trade protectionism amid talk of a potential ‘currency war’. So basically, economists and finance ministers who brought up the fear of a currency war are now saying it’s nothing to be afraid of and everything [...]
“We’re in the midst of an international currency war, a general weakening of currency. This threatens us because it takes away our competitiveness,” he [Brazilian finance minister Guido Mantega] said. The world is in the midst of an “international currency war” according to Brazil’s finance minister as governments force down the value of their currencies [...]
Is China Executing a Cunning Sun Tzu Strategy to Destroy the Dollar and Cause an Upward Price Explosion in Gold? By Elizabeth Brinsden Could China be coveting the role of the next economic superpower, thereby supplanting the USA? If so, is China planning to do this by design or is it simply awaiting this result [...]
“”Once that uranium, once those fuel rods are very close to the reactor, certainly once they’re in the reactor, attacking it means a release of radiation, no question about it,” Bolton told Fox Business Network.” Ganging up on Iran has about as much to do with nuclear weapons as invading Iraq did. There is long [...]
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