Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Saturday, 20 October 16:32 (GMT -05:00)



Business And Politics News

Chinese Renminbi’s Global Currency Status Will Open Chinese Economy to the World


The Chinese government is planning to turn the Chinese Yuan into a global reserve currency in order to make the national economy more open to the rest of the world.  This was confirmed by the People’s Bank of China.
 
The governor of the central bank reminds us that Beijing started to gradually open the Chinese markets to foreign investors in the late 1980s – early 1990s when China was getting ready to enter the WTO. However, later on, those processes slowed down because of the Asian financial crisis in the late 1990s and the global crisis in 2008-2009.
 
Nevertheless, Beijinghasbeenopeningforeignofficesabroadandinvitingforeignfinancialcompanieseversince. This is done to improve the competition in the domestic markets.

When it comes to the policy based on openness, the key role is played by the internationalization of the Chinese Yuan (also known as the Renminbi). The central bank took enough steps to make the Renminbi a perfect fit for trading and investing. On top of that, it was added to the SDR basket, which is a big step for the Chinese national currency.

Previously, the Chinese Minister of Foreign Affairs already mentioned the government’s plans to open wide the access to the local markets. In particular, he promised to ease the restrictions on foreign investments and international trade to let China integrate deeper into the global economy.


 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Crude Oil Prices May Reach $100/b

Ever since the United States imposed new sanctions on Iran, other oil exporters have been trying to make up for the decline in the international oil supply. Some experts are now predicting a strong trend all the way up to $100 per barrel. 

Publication date: 25 September 11:51 AM

New Anti-Russian Sanctions Will Slow Russian Economy Down, Kudrin Says

The new package of anti-Russian sanctions is expected ot be imposed by the United States in November. Apparently, this is not expected to become a disaster ofr the Russian economy, but it still may slow down the economic growth in Russia as well as the the flow of foreign investments to the country. This is what ex-Finance Minister of Russia Alexey Kudrin thinks on the matter.

Publication date: 19 September 12:10 PM

Cryptomarket Quickly Recovered From the SEC's Decision

The global market of cryptocurrencies quickly recovered from the downtrend after the SEC decided to ban the creation of Bitcoin ETFs.

Publication date: 24 August 10:00 AM

Ulysse Nardin Watch in Elite Lombard: Quality Dictated by Time

Elite Lombard has been operating in Moscow since 2003. It was founded by a team of experts with many years of expertise in the industry.

Publication date: 21 August 07:47 AM

Trump is Isolating the USA from the Rest of the World

Fareed Zakaria has commented on the content of today's external policy of the United States. He claims that President Trump's ambiguous decisions have been pushing the United States away form the rest of the world.

Publication date: 13 August 11:38 AM

Business Circles Stand Still Waiting for Fed's Decision

On July 31st - August 1st, Washington is to host another FOMC meeting. For those of you who don't know FOMC is a Fed committee. The entire business and investment world is now looking forward to the result of this FOMC meeting. The key question is whether the Fed is going to keep on toughening its money-and-credit policy. The answer will be revealed later on Wednesday.

Publication date: 31 July 12:05 PM

Fitch Downgrades Economic Forecast for Russian Economy

An international rating agency named Fitch has downgraded the economic forecast for the Russian Federation. In particular, the experts working for the international agency assume that the Russian economy will grow by 1,8% this year. The previous forecast used to be 2% in 2018. The economic forecast for the next year has dropped from 2% down to 1,9%. In 2020, the Russian economy is believed to gain only 1,5%. The long term forecast is also bearish – 1,2% a year on average.

Publication date: 28 June 12:51 PM

When it comes to trade, EU is worse than China, Trump says

Not so long ago, President Trump said that the European Union is worse than China, when it comes to trade relations. This is reported by Axios with reference t anonymous sources. They say this comparison was made during President Trump’s conversation with French President Emmanuel Marcon back in April 2018. Back then, the 2 leaders were discussing the Chinese issue. Macron urged Trump to unite forces with Europe to resist China since China is a trade problem for everyone. 
 
Publication date: 27 June 11:07 AM

Trump Turned G7 Into G6+1

The British media are criticizing Donald Trump's stance and behavior during the recent G7 summit in Quebec, Canada. 

Publication date: 13 June 12:02 PM

G7 Is Ready to Impose New Sanctions on Russia

In the final communique of the recent G7 summit in Quebec, Canada, there is warning for Russia. In particular the G7 warns Moscow that they are ready to impose even more sanctions on Russia in case of further aggression. 

Publication date: 12 June 11:44 AM