Beijing Urges U.S. to Avoid Default
As the U.S. government begins its second week on shutdown, Beijing has urged Washington to avoid a debt crisis and protect Chinese investments. Reuters reports: China, the U.S. government’s largest creditor, is...
foreign reserves
3.5 Trillion Dollar Investor: A Mystery Man
Former physicist and bond trader Zhu Changhong remains a mystery man to most, despite handling investment of “the world’s largest stash of cash,” China’s $3.5 trillion foreign reserves. From Lingling Wei...
CIC Set for up to $200bn in Fresh Funds
China Investment Corp., the official sovereign wealth fund, is going to receive between $100-200 billion in new funds from the government. From the Financial Times: CIC, which has already fully allocated the $110bn it had...
China Continues to Trim its US Debt to Avoid Risks
Though China remains America’s largest creditor by virtue of holding the largest amount of U.S. debt through Treasury bonds, China has also been selling a large portion of them in order to diversify risk. From the...
China Says Foreign Reserves not Political `Weapon’
From AP: China tried Wednesday to allay concern about the political impact of its $2.5 trillion foreign reserves, saying they are not a “nuclear weapon” to control other nations and its vast holdings of U.S. Treasury...
Japan Overtakes China as Largest Holder of Treasuries
From Bloomberg: China’s ownership of U.S. government debt fell in December by the most since 2000, allowing Japan to regain the position as the largest foreign holder of Treasury securities. Japan’s holdings rose 1.5 percent in...
Robert J. Samuelson: China’s $2.4 Trillion Grip on the Global Economy
Columnist Robert J. Samuelson writes in the Washington Post: China disclosed the other day that its foreign exchange reserves had increased to about $2.4 trillion in 2009, up $453 billion for the year. These stupendous figures...
Philip Bowring: Chinese Exceptionalism
In the New York Times, Philip Bowring writes that while much of the world has “chafed against” U.S. exceptionalism in the global economic order, in fact China enjoys an exceptionalism that is contributing to global...
Nouriel Roubini & Victor Zhikai Gao: The U.S. Dollar vs. Renminbi
The New York Times has two op-ed pieces today looking at the power of the renminbi versus the U.S. dollar. From Nouriel Roubini (professor of economics at the New York University Stern School of Business and the chairman of an...
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