The global flow of gold from west to east that helped to make China the world’s largest user will probably last for up to two decades as rising incomes spur demand, according to the China Gold Association. continue reading at bloomberg.com
LATEST NEWS : China’s Income Inequality Surpasses U.S., Posing Risk for Xi
The income gap between the rich and poor in China has surpassed that of the U.S. and is among the widest in the world, a report showed, adding to the challenges for President Xi Jinping as growth slows. A common measure of income inequality almost doubled in China between 1980 and 2010 and now points to a “severe” disparity, […]
China's yuan dislodges Swiss franc as 7th most-used currency: SWIFT
China’s yuan surpassed the Swiss franc to become the seventh most-used world payments currency in January, global transaction services organization SWIFT said on Thursday. With a market share of 1.39 percent, the yuan remained one of the top 10 most-usedcurrencies for payments worldwide for the third consecutive month. It ranked eighth in December. Yuan payments increased by 30.6 percent while the growth for all […]
Yellen Leads Fed Damned Every Way by Emerging Market Angst
Janet Yellen is discovering that when it comes to providing monetary stimulus, theFederal Reserve is damned byemerging markets when it does and damned when it doesn’t. Sixteen months after she used a Tokyo gathering of global policy makers to defend her institution against criticism it was purchasing too many assets, Fed Chair Yellen attends this week’s Group of […]
China’s Rescue of Troubled Trust May Stoke Risk-Taking
China’s eleventh-hour rescue of wealthy investors in a high-yield trust threatens to drive more money into the nation’s $6 trillion shadow-banking industry, undermining regulators’ efforts to deter excessive risk-taking. Industrial & Commercial Bank of China Ltd., the nation’s largest lender, yesterday told customers who had invested in the 3 billion-yuan ($496 million) trust product that they […]