China reaching a preliminary agreement with Sri Lanka, before the group of major creditors signing a MoU has taken the country’s other foreign creditors entirely by surprise and has brought shame upon the U.S., India and Japan who were blaming China for no reason.
Oct 24, 2023
People get used to the power. There’s always a huge time lag. And that’s why the Western media also continues to pretend that the Asian century is not happening.
Aug 1, 2023
Given increasing concerns about U.S. hegemonism and the state of the U.S. dollar, ‘dedollarization’ is a new trend.
Dec 13, 2022
AIIB is a new institution which is free of the influence of Western countries and system. It has been designed to assist the poor and developing countries.
Sep 8, 2021
President Trump’s administration, by introducing tariffs against China, is directly acting to reduce the living standards of the US population.
Aug 17, 2018
Since the reform and opening up, generations of China’s best entrepreneurs have flourished in both internal and external markets through fierce competition, and have made a great contribution to China’s economic and social development. The fostering of entrepreneurial spirit will encourage the entrepreneurs to make even greater contributions and will also bring greater individual vitality.
Sep 30, 2017
On November 30th, the IMF board’s decision declared that China’s currency, the RMB, would be incorporated into the SDR. China’s hopes of seeing the RMB become part of the global reserve currency has been partially fulfilled. SDR is, by definition, a book asset that can be used by the members of the IMF for debt repayment and for narrowing the gap of international payments imbalance. China’s financial authority, the People’s Bank of China (PBC) reaction towards IMF’s decision appeared positive, considering that the decision was a recognition for China’s social and economic progress and was conducive for RMB internationalization. Well, China has reasons to be cheerful. On one hand, one of the ways of deciphering whether a currency should be incorporated into the SDR is through assessing the issuer’s world trade share. China is a massive market for global investors, and the trade with China is both significant for the country itself as well as the rest of the world. On the other hand, with the China’s economic power growing, the RMB has been widely used for regional and global economic and financial interactions. However, it is inappropriate to be overoptimistic. The role of a currency played in the world finance is essentially dependent on its competitive power. China is now facing an economic downturn and capital outflow that brings […]
Dec 1, 2015