In mid-January, the People’s Bank of China (PBoC) announced that its foreign exchange reserves had grown by a breathtaking $157 billion in the fourth quarter of 2013. That influx of reserves brought annual growth for 2013 to $508 billion (the largest calendar-year increase ever) and pushed the total amount of China’s reserves toward the $4 […]
G-20 world leaders meeting in Seoul, South Korea, concluded the summit late Friday by issuing a joint communiqué, with no specifics, agreeing only in general terms to curb “persistently large imbalances” in saving and spending. But deep divisions, especially over the US-China currency dispute, left G-20 officials negotiating all night to draft a watered-down statement for the leaders to endorse, keeping alive a dispute that raises fears of a global trade & currency war, and fears of rising protectionism among nations.
A briefing on the major global economic issues that will confront world leaders as they gather for the upcoming 2010 Seoul G-20 Summit.
A rising chorus of central bank policy-makers in emerging market nations criticized the Federal Reserve on Thursday for its decision to pump more money into the U.S. economy – a monetary policy known as Quantitative Easing – a measure that they fear could escalate the worrisome influx of cash into fast-growing economies around the world.
There are mounting anxieties in Global capital markets over the divergence between China’s economic policies – specifically, its currency exchange rate policies — and the relationship that currency valuation has to a sputtering economic recovery in the rich Western economies.