December 27, 2009 (24/7 Wall Street) — China became the world’s second largest economy in 2009, passing Japan, which has held this distinction for decades. The People’s Republic raised its growth forecast for 2008 to 9.6% from 9% which took the total to over $4.6 trillion. The Chinese government says it will have economic growth [...]
From the category archives:
Emerging Markets
Has everyone noticed that China is now actively promoting use of its currency in international trade in South East Asia? Rumor also has it that China may be about to buy more gold for its reserves. — Larry
I tried to change a $100 bill at an official currency exchange counter at the local mall here in Bangkok today. It was refused. The reason the teller gave me: It had too many creases in it.
I used to be able to change my U.S. dollars in Asia no matter how old and worn they [...]
LOS ANGELES (MarketWatch) — The central bank governors of China and Brazil have agreed in principle to allow trade between the two countries to be settled in their respective currencies, reports said Sunday.
People’s Bank of China Gov. Zhou Xiaochuan and Banco Central do Brazil President Henrique Meirelles met on the sidelines of the Bank [...]
June 29 (Bloomberg) — China plans to increase strategic crude oil reserves by 160 percent to 270 million barrels during the next five years, Nikkei English News said, citing an unidentified official from China’s National Energy Administration.
China will spend 30 billion yuan ($4.39 billion) for stockpiling facilities with a capacity to hold 169 million [...]
Below news should not be surprising to anyone. Right on the money with my recent forecasts. — Larry
Malaysia, China consider ending use of dollar for trade
MALAYSIA (THE WALL STREET JOURNAL) – MALAYSIA’S prime minister said China and his country are considering conducting their trade in Chinese yuan and Malaysian ringgit, joining a rising number of nations [...]
China’s government has decided to distribute 5 billion yuan ($731 million) in subsidies to encourage vehicle purchases in rural areas. This adds up to as much as $1,170 per vehicle.
China’s fiscal stimulus has aimed to concentrate on the impoverished rural areas that house half of its 1.3 billion population. This is good policy as vehicles [...]
Signs of life! See article below — Larry
March 10, 2009 (Platinum Today) — Three members of the emerging BRIC (Brazil, Russia, India and China) economies have posted encouraging auto sales figures for February, it was revealed yesterday (9th March).
According to the latest data from the Society of Indian Automobile Manufacturers, the country’s passenger [...]
