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...
Peter Manuel's ‘Cassette Culture’ showed the booming Bhakti music during the '80s and '90s when Anoop Jalota, Gulshan Kumar achieved success by singing the sanitised Bhajans.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
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