Last year was the Year of the Rabbit for the Chinese – promising among other things good luck! However, China which came out of the global financial crisis almost unscathed (or at least better off than most major world economies) hit one too many ‘speed-bumps’ in 2011. Last year’s inflation is threatening a significant slow-down […]
Global economic developments this year, along with the impact of safe-haven investment flows have led to the appreciation of the dollar in global markets, contributed to the high level of unemployment in the U.S. and increased the chances for a double-dip recession in America. All these developments have further highlighted the international tensions over exchange […]
It is a well know fact that China undervalues its currency, by pegging the renminbi (RMB) to the dollar at an artificially low level. This, along with other subsidies and mercantilist trade policies, keeps Chinese exports cheap, and thus more attractive to consumers in the U.S. and Europe. Because China is the manufacturing hub for […]
According to a recent article by Charles Wallace, posted on the Daily Finance (Currency Wars: How Ben Bernanke Outsmarted China), the U.S. has already taken the first ‘shot’ of the U.S.-China – often proclaimed, never materializing – trade war. Mr. Wallace reported that Fed Chairman Ben Bernanke’s program of quantitative easing is targeting the Chinese […]
–UPDATE (9-20-2009) – DNA test results confirm Top’s death. Indonesian authorities have officially declared Noordin Muhammed Top, suspected terror mastermind of the July Jakarta Hotel Bombings, dead. He was killed in last month’s Indonesian police raid of a house in the central Java town of Solo. The identification was based on fingerprints stored on the […]