china Tag

You may ask: – Is this a good time to buy gold? – Or, is this a good time to sell gold? – How do I assess the gold market today? For a start, I believe we must understand the relationship between demand, supply and prices of gold. They are interrelated. For instance, high demand and low supply of gold would lead to an increase in gold prices over the long-term. The opposite is true. It is just basic economics. Thus, a good time to buy is usually when: –Read More

Posted On July 26, 2017By HoudiniIn Articles

Central Bankers ‘Are’ The Crisis

If there’s one myth – and there are many – that we should invalidate in the cross-over world of politics and economics,it‘s that central banks have saved us from a financial crisis. It’s a carefully construed myth, but it’s as false as can be. Our central banks have caused our financial crises, not saved us from them. It really should -but doesn’t- make us cringe uncontrollably to see Bank of England governor-for-hire Mark Carney announce -straightfaced- that: “A decade after the start of the global financial crisis, G20 reforms are building a safer, simplerRead More

Posted On July 19, 2017By HoudiniIn Articles

China’s Cashless Revolution

In the developing world, a new payment model is emerging. On a recent trip to Shenzhen, in southern China, I came across a subway busker with two tip jars. The first was a cardboard box filled with coins and bills; the second was a small QR code taped to the box that allowed passersby to leave a tip by smartphone. On one level, this was simply smart business: Chinese made around $5.5 trillion in e-payment transactions last year. But it also offered a glimpse of the future. Around the developing world, QRRead More
SHANGHAI (July 7) Virtual currencies like bitcoin are assets but bitcoin in itself does not have the fundamental attributes needed to be a currency that could meet modern economic development needs, a Chinese central bank adviser said. Sheng Songcheng, adviser to the People’s Bank of China (PBOC), made the comments in an interview with financial magazine Yicai published late Thursday. “Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms…But I do not deny that virtual currenciesRead More
China struck deal after deal to acquire companies abroad over the last few years. Now the bill is coming due. The nation’s top corporate dealmakers, including HNA Group Co. and Fosun International Ltd., must pay off the equivalent of at least $11.5 billion in bonds and loans by the end of 2018 — a feat now complicated by government efforts to rein in their aggressive rush overseas. That figure represents just a fraction of the total debt of 1.1 trillion yuan ($162 billion) that the Chinese companies have reported asRead More
Nonperforming loans at Thailand’s banks are set to peak toward the end of 2017, according to Fitch Ratings, an outlook that may salve investor sentiment in one of Asia’s worst-performing stock markets this year. Thai economic growth is subdued but relatively stable at about 3 percent, signaling a slower expansion in bad loans in the months ahead and an eventual peak by year’s end or just after, said Parson Singha, senior director for financial institutions at Fitch Ratings in Bangkok. “It depends a lot on how the economic cycle goes,”Read More
It took just three weeks for Ding Lieming to quintuple his net worth and become a freshly-minted billionaire. Six months later, almost half his fortune was gone. A tale of bold bets gone bad? Nope, just business as usual in the Chinese stock market. The wild ride for Ding, chairman of Hangzhou-based Betta Pharmaceuticals Co., illustrates the latest upheaval surrounding wealth creation in China: tycoons who rapidly gain — and then almost as quickly lose — billionaire status amid swings in the country’s initial public offerings. The IPO booms andRead More
(June 16): Kim Dae-jung, the former president of South Korea, once told me a story that perfectly captures the spirit of reform that followed the 1997 Asian financial crisis. He was on an official trip to Vietnam when a panicked visitor from Seoul sought an audience. It was Kim Woo-choong, the flamboyant founder of Daewoo Group, then Korea’s second-largest business house. Over breakfast in Hanoi, the businessman said his companies were spiralling towards financial ruin and begged the president for help. In the past, such an appeal probably would’ve worked.Read More
China’s workers may be starting to feel like they’re getting a raw deal. Amid soaring industrial profits, employees in the world’s second-largest economy saw slower wage growth last year — and many are seeing the smallest raises since 1997. That’s another sign that the years of pay gains above ten percent and burgeoning spending power are coming to a close, as China confronts industrial overcapacity, mounting debt and waning competitiveness. Yet while slowing wage growth is bad for workers now, it’s not entirely negative for the economy as a wholeRead More
Two weeks ago, a key China-linked concern that made headlines back in 2013 and 2014 reemerged after an extensive analysis by Reuters reporter Engen Tham found that China’s “ghost collateral” problem, or collateral that was either rehypothecated between two or more loans, or simply did not exist, had not only not gone away but was still as prevalent as ever if not worse. The report, a continuation of extensive reporting conducted on this site, said that 60% of all loans issued in China’s system are backed by property, and that China’s property valuesRead More