Sunday, December 17, 2017

Tag: G20

Xi Jinping’s Swiss visit to present positive Chinese message: ambassador

Chinese President Xi Jinping's upcoming Swiss visit will present a confident, open, responsible and positive Chinese voice to the world, Ma Zhaoxu, China's Permanent Representative to the United Nations Office at Geneva (UNOG) and Other International Organizations in Switzerland, wrote in a signed article published on People’s Daily on...

Syria on brink of final victory in Aleppo

With Jihadi counter offensives crushed, the Jihadis in eastern Aleppo trapped, and the US out of options, the Syrian government backed by Russia is on the brink of winning 'the Great Battle of Aleppo' and restoring its full control over Syria's biggest city. Whilst all the attention is focused on...

The End of the G-20: Has the Group Outlived Its Purpose?

Over Labor Day weekend, the leaders of the G-20 countries gathered in Hangzhou, China, for their annual summit. Their goal this year: save the good name of globalization, which has recently taken a beating. In the wake of Brexit, the U.S. Republican presidential candidacy of Donald Trump, the rise...

Will Russia and Turkey Change the Energy Map of Europe?

The meeting between Russian President Vladimir Putin and Turkish President Recep Tayyip Erdoğan during the G20 Summit in Hangzhou has given fresh impetus to bilateral relations and joint projects. This primarily relates to the construction of the Turkish Stream pipeline, which may become one of the key elements of...

Turkey reaches critical crossroads in Syria

Now that control of the Turkey-Syria border has been wrested from the Islamic State (IS) between al-Rai and Jarablus, what will Ankara's next target be: IS in al-Bab or the Kurdish People's Protection Units (YPG) in Manbij? On Sept. 4, 12 days into Operation Euphrates Shield, Free Syrian Army (FSA) elements...

China to lead way with landmark SDR bond offerings

HONG KONG/SINGAPORE, (IFR) - China is pushing for a landmark offering of bonds denominated in Special Drawing Rights, the International Monetary Fund's synthetic reserve currency, ahead of the renminbi's official entry into the SDR basket in October. The World Bank and China Development Bank are actively preparing to issue SDR...

It’s Time for China Analysts to Stop Talking Past One Another

What exactly is going on in the People's Republic? Even with good data, experts can't agree. On August 12, the International Monetary Fund (IMF) issued its annual report card on China's economy and gave the country mixed grades, finding that its “economic transition will continue to be complex, challenging, and...

Russia announces war games after accusing Ukraine of terrorist plot

Vladimir Putin summoned his security council and the Russian Navy announced war games in the Black Sea a day after the Russian president accused Ukraine of trying to provoke a conflict over Crimea, which Moscow seized and annexed in 2014. The belligerent posture heightened worries in Ukraine that Russia may...

SDR bonds are China’s next step to take yuan global

SHANGHAI -- With the yuan set to enter the Special Drawing Rights currency basket in October, China looks to create a market for SDR-denominated bonds as a step toward internationalizing the country's currency. The government-linked China Development Bank as early as this month will issue $300 million to $800 million...

China to stick to stable yuan against currency basket, says central bank chief

Zhou Xiaochuan underscores Beijing’s ongoing commitment to keeping currency's value steady. The value of the yuan would remain stable against a basket of currencies, central bank chief Zhou Xiaochuan said on Sunday on the sidelines of the G20 meeting of finance ministers and central bankers in Chengdu. Speaking to the South...

Gold surges most in 2 years in panic buying after Brexit shock

Gold surged on Friday to its highest level in more than two years, and posted its biggest daily gain since 2008, as shaken investors snapped up the safe haven asset amid fears of further market turmoil after Britain shocked the world by voting to leave the European Union. Gold for...

China Quietly Prepares Golden Alternative to Dollar System

China, as current chair of the G-20 group of nations, called on France to organize a very special conference in Paris. The fact such a conference would even take place in an OECD country is a sign of how weakened the hegemony of the US-dominated Dollar System has become. On...

China SDR announcement enshrines move away from its dollar focus

China pushes a multicurrency reserve system at heart of the world’s financial order. China's utterances over the years on the International Monetary Fund's special drawing rights confirm the Beijing authorities’ reputation for long-term thinking as well their ability to create riddles on what the goals actually are. The mystery is starting...

Chinese Central Bank Vows to Expand Use of IMF Reserve Currencies

The Chinese yuan was included in the IMF's elite basket of reserve currencies last year. BEIJING—China’s central bank Governor Zhou Xiaochuan said the government will make efforts to expand the use of the International Monetary Fund’s basket of reserve currencies in its domestic economy. Mr. Zhou said China will use both...

Central banks are already doing the unthinkable – you just don’t know it

The lords of finance are losing their touch. Institutions which dragged the world from its worst depression since the early 20th century are finally seeing their magic desert them, if conventional wisdom is to be believed. Eight years on the from the Great Recession, voices as authoritative as the International Monetary...

It’s lonely out there for central bankers in a low growth world

A blockbuster week for global monetary policy ended on a whimper and started with a bang. Central bankers round the world are realising their pump-priming policy actions are having a diminishing impact, an awkward insight just as they're forced to be more experimental and more risky. The next obvious trick is...

Next Financial Crisis Could Overwhelm World’s Defenses, IMF Says

The global financial safety net has become increasingly fragmented, making it harder to respond to crises in a world roiled by volatile capital flows, International Monetary Fund staffers warned. Defenses haven’t kept up with the growth of external debt in recent years, the Washington-based fund said in a report released...

The Obama Doctrine

The U.S. president talks through his hardest decisions about America’s role in the world. Friday, August 30, 2013, the day the feckless Barack Obama brought to a premature end America’s reign as the world’s sole indispensable superpower—or, alternatively, the day the sagacious Barack Obama peered into the Middle Eastern abyss...

A Warning From the BIS: the Calm Before the Storm?

The Bank for International Settlements (BIS) is worried that recent ructions in the equities markets could be a sign that another financial crisis is brewing. In a sobering report titled “Uneasy calm gives way to turbulence” the BIS states grimly: “We may not be seeing isolated bolts from the...

Don’t listen to the ruling elite: the world economy is in real trouble

Andy Xie says those attending the G20, Davos and other wasteful meetings are wrong to try to pin the blame for the turmoil on people’s psychology; all signs point to a prolonged period of global stagnation and instability. The G20 working group meeting in Shanghai didn’t come up with any...

China assures U.S. no devaluation, pushing reforms forward

BEIJING - China’s premier told visiting U.S. Treasury Secretary Jacob Lew on Monday his government is pressing ahead with painful reforms to shrink bloated coal and steel industries that are a drag on its slowing economy and ruled out devaluing its currency as a short-cut to boosting exports. Premier Li...

China rules out weakening yuan to boost trade

SHANGHAI - China's central bank chief promised Friday to avoid weakening its yuan to boost sagging exports as he tried to reassure nervous financial markets about his government's handling of its economy and currency at the start of a closely watched gathering of global finance officials. Beijing wanted to use...

CNBC Transcript: Interview with Saudi Foreign Minister, Adel al-Jubeir

Following are excerpts from the transcript of a CNBC interview by Hadley Gamble and Minister of Foreign Affairs of Saudi Arabia, Adel al-Jubeir. HG: Iran is threatening divine retribution for the execution of Shi'ite Muslim cleric Nimr al-Nimr, what is your government's response to that message from Tehran? AJ: Our response...

Turkey takes a hit from the Russian hammer

The conflict between Russia and Turkey that was sparked by Turkey’s downing of a Russian fighter jet on Nov. 24 is too serious to be treated in any sense of sarcasm and with emotional outbursts. On Dec. 3, delivering his state of the nation address, Vladimir Putin voiced his anger...
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Putin: ISIS financed from 40 countries, incuding G20 members

President Vladimir Putin says he’s shared Russian intelligence data on Islamic State financing with his G20 colleagues: the terrorists appear to be financed from 40 countries, including some G20 member states. During the summit, “I provided examples based on our data on the financing of different Islamic State (IS, formerly...

China-UK Joint Declaration on Building a Global Comprehensive Strategic Partnership for the 21st Century

At the invitation of Her Majesty Queen Elizabeth II of the United Kingdom of Great Britain and Northern Ireland, His Excellency President Xi Jinping of the People's Republic of China undertook a State Visit to the UK from 19 to 23 October 2015. During the visit, President Xi was...

Canada reveals it’s actively considering joining China-led Asian bank AIIB, despite U.S. reservations

OTTAWA - Canada broke its silence on Tuesday over whether it would take part in the China-led Asian Infrastructure Investment Bank, signalling it was actively considering joining the institution despite U.S. and Japanese reservations. A senior Canadian finance official revealed the stance to reporters ahead of meetings in Washington of...

U.S. urges allies to think twice before joining China-led Asian Infrastructure Investment Bank

(Reuters) - The United States urged countries on Tuesday to think twice about signing up to a new China-led Asian development bank that Washington sees as a rival to the World Bank, after Germany, France and Italy followed Britain in saying they would join. The concerted move by U.S. allies...

G20 Urges U.S. Action on IMF Reforms by April

WASHINGTON, (IPS) - The Group of 20 (G20) industrialised and emerging economies on Sunday formally expressed frustration with the ongoing inability of the United States to approve a major reform package that would see governance at the International Monetary Fund (IMF) shift more towards developing countries. The reforms were approved...

Saudi Arabia, the G20 summit and oil

Saudi Crown Prince Salman bin Abdulaziz arrived in the Australian city of Brisbane for the G20 summit on Thursday. His arrival was preceded by a wave of questions and analyses about the course of future oil prices. Is it a war against Iran and Russia? Or is it a...

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