Trump's threat to impose 100% tariff on BRICS nations won't worry Indian policymakers, given that it has consistently denied any interest in replacement of US dollar as global currency.
USD has been the world’s reserve currency for over 75 years, but many nations are now seeking to trade in local currencies to reduce costs, avoid sanctions & reshape global financial system.
Capital Economics’ Mark Williams has raised an interesting question, as to whether e-CNY, as some are beginning to call the new electronic cash, is not a central bank digital currency.
The onshore renminbi gained almost 4% in the three-month period ending Sept, the most since early 2008, while its offshore counterpart advanced more than 4%.
The problem with such spending is that these construction projects struggle to generate sufficient revenue and end up adding to the debt of local governments.
There are similarities but there are also key differences, including a less interventionist response by authorities.
China’s stocks are tumbling, the yuan is sinking, and...
China patiently invested capital, skill and technology in coal gasification. Unlike it, we won’t move from words to action. As crude prices decline, we lose interest.
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