China is now a ‘safe haven’ as international capital flee from Western markets to Asia amid banking turmoil
The unfolding banking crisis in the US and Europe, which has shattered investor confidence in the Western financial system, could highlight China as a “relative safe haven,” economists at Citi said in a note.
The Chinese economy could see accelerated expansion this year, giving the country a “hedge” for growth while economies in the US and Europe face heightened risk of financial disruption, according to the note.
“We have long been discussing our view that China can be a major growth hedge this year – if anything, recent global banking stresses perhaps have strengthened this thesis,” a team led by Citi’s Chief China economist Xiangrong Yu reportedly stated.
“China could at least be a relative ‘safe haven’ given its growth premium, financial soundness, policy discipline and the new political economy cycle,” the economists argued.
Citi also expects to see the onshore yuan strengthening against the US dollar as soon as September, which would bring the renminbi to its strongest levels since April last year.
Anonymous
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Yesterday, both CNN and FOX NEWS aired alarming stories about "De-Dollarization" - that the world is turning its back on the US dollar, and that means trouble is coming to the US, trouble on a scale that literally none of Americans has seen in their lifetimes.
FOX NEWS featured an interview with former Assistant US Treasury Secretary Monica Crowley saying it's hard to overstate exactly how catastrophic a global shift from the US dollar would be. She says oil has always been traded in dollar, and if that is to end, it would mean the end of the US dollar, an implosion of the US economic system, and Americans would be looking at sky-high inflation. US will also lose its global economic dominance and superpower status. She says if Saudi Arabia were to allow its oil to be traded in different currencies other than the US dollar, Americans at home will experience raging inflation, so much worse than anything they've ever experienced.
CNN's Fareed Zakaria talked about the dollar suffering "a death by a thousand cuts" and makes clear "America will face a reckoning like none before" as a perfect storm approaches.
China and Russia knows the Achille's Heel of USA power. It is their US$ hegemony that allowed them to print fiat money to fund their military, dictate economic policies that the world must follow, and threatenin the world with sanctions if they disagree. But the USA's misuse of that power is leading to all the problems it is now facing.
China and Russia formed BRICS to de-dollarise trade. Taking down the USA's military power is not feasible, leading to too much at stake to anticipate. Taking down the USA's US$ hegemony is the way to do it.
The world should support the agenda of BRICS and make sure that it succeeds. But the indications are it is succeeding, with more countries joining in.
Sinkieland PM and many others flocking up now to China begging to join the Bricks, oops BRICKS to oust the Western Barbarians.
Actually the Main Trades Routes will be the Old Silk Road that will be revived.
Red Dot and many Others are left out in the COLD.
The Usual Trade Routes are still the Routine One.
That's why it's so important that the Urukiane and Russia Conflict must be settled fast which the the UAssA and their doggies do not want as this is the way of the BRI to Europe.
Many of the Northern Hemisphere countries of Kazakhstan and others faster leaned to China as they knew that the UAssA would come to them next to create havoc just to throw some spanners into the works.
MOT, after Urukiane the countries next and aligned to Russia side would be the Americunts next targets.
Singapore sorely misses the wisdom of LKY . . .
North Korea Succeeds in Miniaturizing Nuclear Warheads to Strike US
North Korea has unveiled new, smaller nuclear warheads as leader Kim Jong Un called for scaling up the production of weapons-grade nuclear material to expand the country's arsenal, state media KCNA said on Tuesday.
KCNA released photos of the warheads, dubbed Hwasan-31, during Kim's visit to the Nuclear Weapons Institute, where he inspected new tactical nuclear weapons and technology for mounting warheads on ballistic missiles, as well as nuclear counterattack operation plans.
Experts say the images could indicate progress in miniaturizing warheads that are powerful yet small enough to mount on intercontinental ballistic missiles capable of striking the U.S.
Photos showed a significant size improvement over prior North Korean nuclear weapons, and possibly design advance.
Kim ordered the production of weapons-grade materials in a "far-sighted way" to boost its nuclear arsenal "exponentially" and produce powerful weapons, KCNA said.
Whatever is made by man, can be made by man. Nothing is impossible. It is just a matter of time.
Although the America sends its military flotilla and bases to the East for easy destruction if it fights any war in the Region,
Comrade Kim Jong Un knows the Only Way to deal with the US is to strike at its' homeland itself. This is commonsense, and all other nations must be cognizant of this Fact.
The Nuclear-armed Middle-eat Country like lran has to emulatr North Korea to deal with the USA.
Such striking at the US Homeland shall put the US in a defensive position and make it vulnerable.
The Americunts is actually vulnerable for decades againgst Russia and China who are able to hit thr US Homeland since decades ago.
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